Coinbase Survey Reveals 20% of Americans Own Crypto Assets Amid Challenging Market Conditions

A study commissioned by crypto exchange Coinbase in the United States reveals that more than a fifth of Americans own crypto.

The study conducted in February says that 50 million Americans, or 20% of the US population, own crypto, about the same figure as early 2022.

On the political affiliation of the Americans who own crypto assets, the survey says,

“Crypto ownership is generally consistent for Republicans (18%), Democrats (22%), and Independents (22%), speaking to how crypto is a rare bipartisan issue.”

Younger Americans and people of color have a higher rate of crypto ownership, per the survey.

The survey also reveals that 80% of Americans are of the opinion that the global financial system “unfairly favors powerful interests” while 67% say that it requires “major changes or a complete overhaul.”

“The survey found that 80% of respondents believe the current financial system is unfair, with the overwhelming majority expressing frustration with the current financial system and a hunger for change.”

According to the survey, more than three-quarters of the Americans who own crypto are optimistic about the future of crypto assets as well as blockchain technology and believe they could be part of a solution to the problems afflicting the financial system.

“76% of those who own crypto agree that cryptocurrency and blockchain are the future. These numbers are even higher amongst people of color and younger Americans. Regardless of crypto ownership, the majority of Gen Z adults (54%) and Millennials (55%) agree that cryptocurrency and blockchain are the future.”

The survey conducted by business intelligence firm Morning Consult on behalf of Coinbase polled over 2,000 Americans.

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