Fed acknowledges growing interest of Americans in Cryptocurrencies

Fed acknowledges growing interest of Americans in Cryptocurrencies

The U.S. is on the list of countries with a growing share of Cryptocurrency investors. And the country leads the world in the number of Bitcoin ATMs, suggesting Americans are eager to test the potential of virtual currencies.

The Federal Reserve released the results of a survey of 11,000 U.S. adults earlier this week. It was conducted between October and November 2021.

The Fed found that many U.S. citizens with high incomes ($100,000 or more) have already invested in BTC and other Cryptocurrencies. 12% of respondents said they view such instruments primarily as an investment.

Only 2% of the country’s adults have used Cryptocurrencies to pay for goods and services or to send funds to family and friends.
However, despite this low percentage of adults using digital assets, the Fed admits that people’s interest in the innovative tool continues to grow.

99% of those who have already bought Cryptocurrencies have bank accounts tied to Bitcoin platforms.

The growing number of BTC holders is forcing U.S. authorities to speed up the development of a regulatory framework for the Crypto market.

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Written by Renat
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