Fed Research Shows Stagnant Crypto Ownership Despite Market Resurgence
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
A recent study from the U.S. Federal Reserve reveals that cryptocurrency ownership has not increased, despite a strong market rebound.
The report, released by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI), reveals that recent crypto market growth has not been matched by a corresponding rise in ownership among U.S. consumers.
The CFI gathered data from surveys conducted between January 2022 and July 2024, using Bitcoin prices as a reference to analyze trends in ownership.
The findings indicate that the steep decline in cryptocurrency ownership occurred during the so-called “crypto winter” of 2022, when the market suffered a significant downturn.
In January 2022, 24.6% of survey respondents owned cryptocurrencies, but by October of the same year, that figure had dropped to 19.1%.
Even with the market’s recovery over the following 18 months, ownership rates did not see a meaningful rebound.
By October 2023, crypto ownership had fallen further to 17.1%, and by January 2024, it reached just 15.4%.
Notably, even Bitcoin’s price surge in March 2024 and its halving in April failed to spur an increase in ownership, with rates continuing to decline, reaching 14.7% by July.
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Six surveys since 2022 reveal the same story – price pumps aren’t pulling in… pic.twitter.com/SlXJZhKCon
Although ownership numbers remain
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