Despite growing adoption rates, cryptocurrency continues to struggle with a “high-risk” reputation among American investors, according to a recent national survey.
Gallup Survey: Only 14% of U.S. Adults Own Crypto
A Gallup poll conducted in mid-June revealed that only 14% of U.S. adults currently hold cryptocurrency. Although that number is up significantly from just 2% in 2018, the majority of Americans remain hesitant. The data shows that 60% of respondents have no interest in buying crypto, and just 4% say they plan to invest in it soon.
Crypto ownership has increased 8x in seven years, but most investors still avoid it due to risk concerns.
Younger Men and High-Income Earners Dominate Ownership
The survey revealed a clear demographic divide. Men aged 18 to 49 are the most likely to own crypto, with about one in four holding digital assets. Ownership is significantly lower among women, seniors, and low-income households.
Additionally, college graduates and higher earners were more likely to participate in the crypto market. In contrast, retirees and financially constrained groups remain largely disengaged, despite increased exposure to crypto topics in the mainstream media.
Risk Perception Remains the Biggest Barrier
Even among investors, the perception of risk is substantial. 64% of U.S. investors now consider crypto “very risky,” up from 60% in 2021. This persistent fear comes despite increased institutional involvement and the rise of regulatory clarity in the U.S.
Negative sentiment was likely shaped by past events like the FTX collapse, crypto scams, and extreme volatility during the 2021 bull run and subsequent crash.
Among Americans who invest in traditional assets like stocks or mutual funds, only 4% view crypto as the best long-term investment, compared to much higher confidence in real estate or equities.
Knowledge Gaps Add to Skepticism
While nearly everyone surveyed had heard of crypto, only 35% claimed to understand how it actually works. Familiarity was highest among younger, wealthier males, but overall comprehension remains a hurdle to broader adoption.
Crypto Adoption Grows, But Trust Lags Behind
The U.S. crypto market continues to expand, but mainstream trust is lagging. Education, transparency, and security remain key to shifting perception. Until then, crypto will remain a niche asset class despite growing infrastructure and institutional support.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.