According to a recent survey conducted by Morning Consult on behalf of Coinbase, 20% of American adults currently own cryptocurrency, with ownership remaining steady over the past 12 months. The survey polled a national sample of 2,202 American adults as well as an oversample of 500 US cryptocurrency investors between February 10 and February 14, 2023.
Frustration with the Financial System
The survey found that 80% of respondents believed the global financial system unfairly favors powerful interests, indicating a widespread frustration with financial system inequality. Additionally, 67% of respondents called for either major changes or a complete overhaul of the financial system. The perception of a one-sided financial system was consistent across racial and ethnic groups, although minority groups held a more favorable view of cryptocurrency and were more optimistic about its future than other cohorts.
Crypto Enthusiasm Among Younger Generations
The survey revealed that 36% of Gen Z and 30% of Millennials currently own cryptocurrency, suggesting that younger generations remain enthusiastic about the asset class. The survey also indicated that younger generations perceive crypto as a worthwhile investment in the future that can lead to societal benefits.
Confidence in the Future of Crypto
Despite recent market turbulence, 65% of current crypto investors believe that the market’s best days are still ahead, and 76% of investors believe that crypto and blockchain are the future.
Desire for Secure and Reliable Exchanges
The survey found that 67% of the general population viewed secure and reliable exchanges as important, with 91% of crypto investors considering a trusted and secure platform to be vital to the crypto market. The survey suggests that increased trust and security among exchanges may encourage more Americans to invest in cryptocurrency in the future.
What the survey suggests…
The survey conducted by Morning Consult on behalf of Coinbase suggests that a significant portion of Americans own cryptocurrency, with ownership remaining consistent over the past 12 months. The survey also highlights a widespread frustration with financial system inequality and a desire for major changes or a complete overhaul of the financial system. Despite recent market turbulence, current crypto investors remain optimistic about the future of the asset class. The survey suggests that increased trust and security among exchanges may encourage more Americans to invest in cryptocurrency in the future.