Crypto Ownership Plummets as Investors Lose Confidence

Crypto's popularity has waned in recent months, according to a new Gallup survey. The survey found that cryptocurrency ownership among U.S. adults has fallen from 14% last year to 9% currently, and from 17% to 11% among investors with $10,000 or more in investable assets.

The share of investors interested in buying crypto remains low at just under 20%, while two-thirds of investors say they aren't interested. Young men, aged 18-49, are the most likely to own crypto, but even among this group, ownership has decreased from 33% to 24% over the last year.

Crypto expert Stephen Kates attributes the decline in popularity to a price drop and the fact that many investors have lost confidence in the asset class. He notes that bitcoin and Ethereum are still 'mildly popular' yet 'volatile', but warns that other coins and tokens may fade into obscurity or remain primarily speculative investments.