43 million Americans have now held cryptocurrency, JPMorgan research – The Financial Express
The Financial Express
43 million Americans, or 13% of the country’s total population, have owned cryptocurrencies at some point in their lives, according to recent JPMorgan Chase research, as reported by Cointelegraph.
According to Cointelegraph, the Dynamics and Demographics of U.S. Household Crypto-Asset Use, a report released on December 13 shows that this number has significantly increased since it was only 3% just before 2020.
The most recent information from JPMorgan was derived from an examination of checking account transfers from a sample of more than 5 million clients. It was discovered that between 2020 and 2022, 600,000 customers in this sample group made a cash transfer to a cryptocurrency account.
Market shocks like the TerraUSD (UST) stablecoin losing its peg in May and the bankruptcy of cryptocurrency exchange FTX in November are to blame for the current decline in the cryptocurrency market.
On many cryptocurrency exchanges, trading costs have decreased, and Coinbase has even reported a nearly 50% decline in revenue. But this new study shows that cryptocurrency ownership has increased over the past few years despite the decline in price and trading activity, Cointelegraph further noted.
(With insights from Cointelegraph)
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