Nearly half of US cryptocurrency investors last year had six-figure incomes, the Federal Reserve says in a new report – Yahoo Finance

Nearly half of US cryptocurrency investors last year had six-figure incomes, the Federal Reserve says in a new report – Yahoo Finance

Blockchain Crypto Market Technology
June 5, 2022 by Coinvasity
22
The Fed said 46% of American adults who used crypto as an investment last year had annual income of $100,000 or more.Meanwhile, 29% of crypto investors had incomes of $50,000 or less, according to the Economic Well-Being of US Households in 2021 report.Overall, 11% held crypto as an investment, 2% used it to buy something,
wp-header-logo-49.png

The Fed said 46% of American adults who used crypto as an investment last year had annual income of $100,000 or more.
Meanwhile, 29% of crypto investors had incomes of $50,000 or less, according to the Economic Well-Being of US Households in 2021 report.
Overall, 11% held crypto as an investment, 2% used it to buy something, and 1% used it to send money to friends or family.
Close to half of US cryptocurrency investors in the US last year had high incomes, the Federal Reserve said in a report Monday.
According to the report on the Economic Well-Being of US Households in 2021, said 46% of American adults who used cryptocurrencies only as an investment made $100,000 or more annually, while 29% of investors had an income of $50,000 or less. The Fed’s prior report didn’t include data on crypto usage.
Overall, 11% of US adults held crypto as an investment, while 2% used it to buy something and 1% used it to send money to friends or family.
The findings coincide with last year’s massive crypto rally, which saw bitcoin soar as high as $69,000. But the sector has been slammed this year amid a sell-off in risk assets overall.
While investors made up a larger share of crypto users, the Fed reported that roughly 60% of those using cryptos for payments made less than $50,000 annually, compared to 24% for those making $100,000 or more.
And those using cryptos for payments were less likely to have access to mainstream financial tools: 13% of these users did not have traditional bank accounts and 27% lacked credit cards.
Read the original article on Business Insider
Related Quotes
In the world of stock legends, Ken Fisher stands out. The legendary investor founded his private financial advisory firm, Fisher Investments, in 1979, with just $250 in seed money. Today, Fisher’s company manages over $195 billion in total assets, and his personal net work exceeds $5 billion. Fisher has cast his eye on current market conditions. In recent published note, Fisher points out the obvious headwinds in the current environment: “Fear of the impact of the tragic, grinding war in Ukraine
Energy prices are soaring. But bargain-hunter Buffett continues to bet on big oil.
Don’t bail on stocks. Just choose them wisely.
The Dow Jones fell on strong jobs data. Tesla stock plunged on an Elon Musk move. Apple stock crumbled. Amazon fell after an executive quit.
Brave investors are trying to buy S&P 500 stocks on the dip. But they're not even crazy enough to touch some.
The metaverse offers added opportunities for a variety of tech stocks. Grand View Research estimated a market size of $47 billion for the metaverse in 2022. It believes that the market will grow to $679 billion by 2030, a compound annual growth rate of 39%!
If higher oil production pushes crude prices and oil stocks lower, you'll want to pick up shares of these two energy companies.
Falling stock prices are no reason to gut your portfolio.
The crypto winter has left the crypto top ten in the deep red. Three look attractive at current price levels when considering their individual attributes.
David Clark, CEO of the online retail titan's Worldwide Consumer division, will step down from that role on July 1. Clark oversees Amazon's e-commerce sites, physical retail stores, and third-party merchant platforms. Clark also spearheaded the rapid build-out of Amazon's fulfillment and delivery network during the pandemic.
(Bloomberg) — Citigroup Inc. Chief Executive Officer Jane Fraser said the US will have difficulty avoiding a recession, though a severe downturn is not the bank’s “base-case” scenario.Most Read from Bloomberg‘Most Clever Oligarch’ Severed His $37 Billion Fortune From Russian RootsOil Sands Crude Prices Nosedive as Russian Bans Upend MarketThere’s a Better Solution for Student Loans Than Forgiving Debt, Experts SayStarbucks Illegally Closing N.Y. Cafe to Retaliate, Union Claims‘No Longer Sure Be
The stock market is down 14% so far this year. If you are an investor looking to earn regular income even in a volatile market, dividend stocks are the way to go. A record of consistently paying and increasing dividends is a sign of a stable company — implying regular income in the form of dividends.
All three major indexes finished the week lower. It’s the next 10 years that investors need to worry about.
Tesla CEO Elon Musk's "super bad feeling" about the economy could be the auto industry's "canary in the coal mine" moment, signaling a recession for an industry whose bosses have shown no signs of concern. Musk said the electric carmaker needed to cut about 10% of its workforce in an email to executives seen by Reuters. Musk's warning is the first loud and public dissent in a united stance by the auto industry that underlying demand for cars and trucks remains strong despite two years of global pandemic.
It's almost six months into 2022 and the stock market is still struggling to recuperate. The S&P 500 index is down almost 14% year-to-date, and though it has bounced off the lows it hit just a few weeks ago, a souring economy threatens to send the index lower. Inflation is at 40-year highs, gas prices are at record levels and rising, interest rates are climbing, the housing market is weakening, and consumer confidence is slipping amid concerns about a recession.
See who joins Nvidia and GOOGL on this screen of Warren Buffett stocks based on the investing strategy of Berkshire Hathaway's CEO.
Apple Inc.'s stock has fallen far enough and for long enough to produce a certain ominous-sounding bearish chart pattern should didn't appear during the short COVID-19-induced bear-market selloff of early 2020.
Here are some stocks that can generate excellent long-term returns while still allowing you to sleep at night.
Las Vegas offers the promise of getting rich. Las Vegas has a surprising number of investment options and the best one might be a company you've never heard of (or maybe never realized was public). You can buy shares in Las Vegas Strip leaders Caesars Entertainment , MGM Resorts International , and Wynn Resorts .
Next Thursday (June 9), Advanced Micro Devices (AMD) will hold its Analyst Day, the first such event since March 2020. That might only be 2 years ago, but much has changed in the interim; the world is now on the other side of a global pandemic and faced with a whole new set of concerns with the prospect of a recession very real. In the meantime, despite suffering like most others in 2022’s volatile stock market, AMD has further cemented its place as a proper chip giant. As Deutsche Bank’s Ross S

source

Add a comment