Crypto Investors Doubled in Past 12 Months: CNBC Survey
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Crypto Investors Doubled in Past 12 Months: CNBC Survey

4mo ago

A poll by CNBC and AI-powered research firm Momentive found that 11% of Americans now own crypto.

Crypto Investors Doubled in Past 12 Months: CNBC Survey

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The number of American cryptocurrency investors doubled in the past year, according to a new survey.

The poll, released by CNBC and artificial intelligence-powered market research firm Momentive on Aug. 23, found that 11% of Americans currently invest in cryptocurrencies. 

“Exactly half of cryptocurrency investors started investing within the last year,” it said.

That breaks out differently when gender is taken into account. Men were more likely to be cryptocurrency investors, at 16%, than women. Only 7% of female respondents to the survey have invested in digital assets.

Young investors were also more likely to buy cryptocurrency, with 15% of those 18-34 invested, compared to 4% of those 65 and older.

The survey polled 5,530 Americans weighted to be representative of the overall population between Aug. 4 and Aug. 11. 

Newer crypto investors — those who entered the market since the beginning of 2019 — outnumber older ones by more than two-to-one, CNBC noted

The survey also found that newer investors — those who first bought Bitcoin or other cryptocurrencies in 2019 or later — are more confident in their investments than older investors who got into crypto before it went mainstream. The newer group is 50% more likely to predict that Bitcoin’s price will continue to rise.

While only 9% of investors said they had ever borrowed money to make investments, almost one quarter (24%) of that group used those funds to invest in cryptocurrency.

Momentive also found that the pandemic had an impact on cryptocurrency investment: 5% said they had invested at least some of their government stimulus payments in digital assets.

Below Crypto’s Numbers

The Momentive/CNBC survey’s results were somewhat lower than a late-June survey by the University of Chicago’s NORC research arm, which found that 13% of Americans had bought or traded cryptocurrencies in the preceding 12 months. More than 60% of that group first invested in 2021.
The NORC survey matched one conducted by the Gemini cryptocurrency exchange in October and November of 2020, which found that “roughly 14%” of Americans owned crypto. 
Those compare to a much-tweeted January 2021 study by New York Digital Investment Group, which had vastly different results. It said that a full 22% of the U.S. adult population — 46 million Americans — owned Bitcoin.