Crypto Ownership Hits New Lows as Investors Seek More Stable Options
Crypto ownership has declined in the United States over the past year, according to a new Gallup survey. The percentage of U.S. adults who own cryptocurrency fell from 14% to 9%, while among investors with $10,000 or more in investable assets, it dropped from 17% to 11%. A significant majority of these investors, two-thirds, say they are not interested in buying crypto.
Among the sub-group of young men aged 18-49, ownership fell from 33% to 24%, despite them being the most likely demographic to own cryptocurrency. Financial experts attribute this decline to a price drop in the past year, which has sent 'tenuous investors' looking elsewhere for their fortunes.
Bitcoin and Ethereum, however, seem to have maintained some staying power, with bitcoin trading around $86,000 per coin as of Tuesday afternoon. Stephen Kates, a certified financial planner, notes that these two assets are still volatile but remain 'mildly popular'. He also expects many other coins and tokens to decline further in value or remain speculative outlets.