The US Federal Reserve (Fed) has posted a report stating that a significant portion of Americans with an income of more than $100,000 have invested in cryptocurrencies.
AT research The Fed, titled “U.S. Household Economic Health 2021,” touched on several topics related to the level of adoption of cryptocurrencies by U.S. citizens. The survey was conducted among 11,000 Americans between October and November 2021 to find out about their economic situation and the types of investments they made.
The study showed that compared to last year, the number of people using cryptocurrencies as a form of investment has increased, surpassing the number of those who used them for transactions or purchases. This indicates an increase in confidence in digital assets on the part of investors from the United States.
“Those who held cryptocurrencies solely for investment purposes had a disproportionately high income,” the document says.
According to the report, 12% of those surveyed said they only purchased cryptocurrencies for investment purposes, and only 2% of respondents said they used digital assets to buy groceries or send money to family or friends in the US. Only 1% of respondents said they used cryptocurrencies to send money to loved ones outside the country.
This suggests that most Americans still prefer traditional banking system services for international money transfers. The authors of the report claim that 13% of US citizens who do not use banking services use cryptocurrency as a means of payment.
At the same time, 99% of Americans who invest in cryptocurrencies and do not use them for transactions have a bank account. The report states that 27% of non-bank credit institutions (NPOs) that do not have credit cards use cryptocurrencies for transactions, while 7% of those without bank accounts and credit cards use cryptocurrencies for investments.
However, according to an NBC News survey, only 19% of Americans perceive cryptocurrencies positively.
Source: Bits
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