More than 50% of Americans think crypto is the future of finance: a grayscale study

A recent study backed by Grayscale notes that more than half of Americans agree that “cryptocurrencies are the future of finance.”

Sentiments seem to cross the political aisle, with 59% of Democrats and 53% of Republicans both agreeing with the statement.

Who loves cryptocurrency?

The studyConducted by The Harris Poll on behalf of Grayscale, it surveyed more than 2,000 Americans over the age of 18 between October 6 and 11. Data were weighted based on demographic characteristics such as age, gender, and ethnicity, to reflect each group’s representation in the general population.

About half of Americans (49%) said they are familiar with cryptocurrency. which was found in Previous pollsThis awareness was highly concentrated among the younger generations (70% aged 18-34; 62% aged 35-44).

Minority status was also a strong predictor, with awareness being stronger among black Americans and Hispanic Americans (60%/62%), compared to white Americans (42%). Similarly, about a third of blacks, Latinos and young adults said that rising inflation and a slowing economy made them more interested in cryptocurrency. An approximately equal proportion owns digital assets.

Crypto was one of the hardest hit asset classes in 2022, losing more than two-thirds of its total market value since its peak last November. In contrast, Bitcoin Proved Relatively stable compared to other asset classes in Q3 specifically the interview British pound in terms of volatility.

Among those who have already invested, many entered simply because they had read something interesting about the asset class, or based on a recommendation from friends or family. Only 25% entered on the recommendation of a financial advisor.

Politics is not a factor?

On the regulatory front, Democrats and Republicans have largely overlapping views.

88% of Democrats and 77% of Republicans agree that the US crypto industry requires clearer regulation. At the same time, more than 80% of both political factions want a “consumer first” regulatory approach, allowing consumers to invest in the digital assets they want while receiving necessary information about each product.

But things are a little different in Congress. Democratic representatives are particularly skeptical of the cryptocurrency industry and often express their concern consumer protectionEvasion of penalties and environmental damage.

By contrast, Republicans have been among the loudest voices urging other lawmakers to allow the industry to thrive with lighter regulations. The Three Active Senators Known to Own Bitcoin – Including Ted Cruz — and “Crypto Mom” ​​Hester Peirce of the Securities and Exchange Commission, they are all on the political right.

Bitcoin-loving Republican Senator Cynthia Loomis has partnered with Democrat Kirsten Gillibrand to form Bill Providing clear regulatory standards for cryptocurrencies, to demonstrate that both parties can find common ground when discussing the sector.

More than 50% of Americans think crypto is the future of finance: Grayscale study first appeared on CryptoPotato.

Leave a Reply

Your email address will not be published. Required fields are marked *