In 2021 the amount of crypto owners in the US surpassed 10% of the population

According to a study by Insider Intelligence crypto ownership in the US reached 28 million people in 2021. Nazmul Islam, forecasting analyst at Insider Intelligence, attributed the increase to new apps that make purchasing cryptocurrency much easier, combined with the popularity of meme coins.

It is expected by the end of 2022, the number of US adults who own at least one cryptocurrency will climb 19.0% to 33.7 million. That equates to 12.8% of the population, having surpassed 10% last year. The largest ownership group will be adults ages 25 to 34, followed by those ages 35 to 44. The smallest but fastest-growing group will be adults ages 65 and over.

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Looking to the future, Islam said that younger people were more optimistic about crypto and were buying it to hold for the long term, whereas older investors were generally more skeptical and risk-averse but were increasingly adding them to retirement funds.

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“Younger investors have a genuine positive outlook on blockchain technology and are buying crypto to hold for a while, expecting prices to continue increasing in the long run,” says Islam. “Older investors will be more risk-averse and leery of the volatile crypto market. Although, they are increasingly starting to invest in crypto as more retirement funds offer it as an option.”

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Following triple-digit growth last year, crypto payment transaction value globally will surge 70.5% in 2022 to reach $10.40 billion. By the end of 2023, transaction value will grow another 55.4% to exceed $16 billion.

This year, 3.6 million US adults will use cryptocurrency to make a purchase, up 68.6% over last year. That means 10.7% of crypto owners will actually use a cryptocurrency to make a purchase.

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Insights from the study showed a bullish picture for the future of crypto adoption, as well as showcasing the assets users are buying:

• 3.6 million people are expected to make crypto payments in 2022, an increase of 69% (nice) from last year.
• Payments made using cryptocurrencies will surpass $10 billion in total transaction value globally for the first time this year.
• 25-34 was the largest demographic for crypto ownership — making up 11 million of US crypto holders.
• The 65+ demographic was the smallest, with just 1.7% adoption rates.
• Bitcoin is the most popular asset with 25.2 million holders.
• Ethereum, the second-most popular asset, will reportedly have 13.1 million owners this year.