Last updated: April 10, 2023 at 5:21 p.m. ET
First published: April 10, 2023 at 5:11 p.m. ET
Nearly 90% of American adults have heard of cryptocurrencies, but most are unconvinced that the ways to invest, trade or use them are reliable and safe, according to a Pew Research Center survey released Monday.
The survey was conducted between March 13 and March 19, around the time Silvergate Capital and Signature Bank, two crypto-friendly banks, either collapsed or were in the process of liquidation. This was also around the time that BTCUSD bitcoin prices skyrocketed.
Crypto...
Nearly 90% of American adults have heard of cryptocurrencies, but most are unconvinced that the ways to invest, trade or use them are reliable and safe, according to a Pew Research Center survey released Monday.
The survey was conducted between March 13 and March 19, around the time Silvergate Capital and Signature Bank, two crypto-friendly banks, either collapsed or were in the process of liquidation. It was also at the time when bitcoin
BTCUSD
prices had skyrocketed.
Crypto has had several tough months, ranging from multiple bankruptcies of companies like crypto exchange FTX, to lawsuits against crypto giants like Binance, and frequent regulatory threats from the Securities and Exchange Commission. UNITED STATES.
Few adults in the Pew Research survey said they were extremely (2%) or very confident (4%) in cryptocurrencies. Older American adults aged 50 and over who knew crypto were more likely than younger people to say they were not confident in the reliability and security of crypto. Differences also emerged between genders, with 41% of men aged 18-29 reporting having invested, traded or used cryptocurrencies, compared to 16% of women in the same age group.
Overall, 17% of American adults said they had invested, traded or used crypto in the past, which was virtually unchanged from previous surveys conducted by the Pew Research team in 2021 and 2022.
These numbers were similar to those reflected in a JPMorgan Chase & Co. survey released in February, in which 72% of institutional traders said they had no intention of trading cryptocurrencies in 2023, and 14 % said they would in the next five years. .
Bitcoin, which was created in 2009, is currently trading at $29,140, up 3.58% in the past 24 hours, according to CoinDesk Data. It is still well below its high of $65,000 in November 2021.