Crypto Still Seen as ‘Risky’ Among U.S. Investors Despite Ownership Surging 8x Since 2018: Survey
Despite increased accessibility, cryptocurrency adoption remains low among Americans. A recent Gallup survey reveals that only 14% of U.S. adults own cryptocurrency, a figure that has grown since 2018 but still represents a small portion of the investing public. This low adoption rate reflects significant skepticism; 60% of respondents expressed no interest in ever buying cryptocurrency, while only 17% showed intrigue. A mere 4% plan to purchase crypto soon.
The survey highlights a perception of high risk. Among U.S. investors holding over $10,000 in stocks, bonds, or mutual funds, 55% deemed crypto “very risky.” This skepticism is understandable, considering the 2021 market volatility, the subsequent “crypto winter” with notable bankruptcies (like FTX), scams, and exploits. While institutional investment is growing, many retail investors, having experienced past losses, remain cautious.
Ownership rates have increased significantly, from 2% in 2018 to 17% currently, though other surveys suggest potentially higher rates (12% according to a Federal Reserve survey). However, the demographic disparity is striking. Crypto ownership is highest among men aged 18-49 (25%), sharply decreasing among women and older adults. College graduates and high-income earners show higher participation than seniors and low-income households.
A significant knowledge gap persists. While almost everyone has heard of crypto, only 35% understand its mechanics, with familiarity concentrated among younger, wealthier men. Even among those claiming understanding, risk perception remains high. 64% of U.S. investors consider crypto “very risky,” an increase from 60% in 2021. Only 4% believe crypto is the best long-term investment. The survey shows that while approximately one in seven Americans own cryptocurrency, nearly six in ten own stocks or real estate, highlighting the continued dominance of traditional investments.
