Over 10% of Americans Will Own Crypto by Year-End: Research

A forecast by research firm Insider Intelligence on the crypto market was released April 20. It predicts that nearly 34 million Americans will have cryptocurrency by the end. This is roughly 10% of the US population. However, the company reported that 12.8% of this number was possible, perhaps taking into account the adult population.

Researchers predicted that by 2023, the number of Americans who use crypto to pay for their payments would double. The researchers also predicted that approximately 3.6 million Americans will use digital assets to pay for their bills at some point in the future.

Crypto Adoption is on the Rise

The forecast indicated that crypto payments will exceed $10 billion globally in total transactions value in 2022. This is a 70% increase over 2021, according to the forecast.

Nazmul Islam, an Insider Intelligence analyst, commented on the rapid rise in cryptocurrency adoption in America.

“Cryptos were easier to buy within the apps that consumers already used, while major financial institutions began investing in crypto. This easy accessibility is accompanied by a lot of hype around meme stocks such as Dogecoin, which results in a significant increase in ownership rates.

According to the report, more than 37 million Americans will own crypto by 2023. This is approximately 14% of the country’s population. The largest ownership group in terms of demographics will be the 25-34 age group, followed closely by the 35-44 age group.

Source: Insiderintelligence.com

Bitcoin is still the most widely held digital asset in America, with 25.2million holders this year, an increase of 16.7% from last year. Ethereum investors will reach 13.1 million by the end this year in the United States, an increase 26.8% over 2021.

The Transaction Value is on the Rise

It reported that transaction value will increase by 55.4% and reach $16 billion by 2023 from $10 billion in this year. David Morris, the principal analyst at Insider Intelligence said that 2021 is all about crypto payments infrastructure and stablecoin adoption.

“We expect more crypto options to be integrated into payment methods, such as cards and digital wallets. These factors will lead to high growth rates in crypto payments over the next few decades.

According to the company, it obtained its data and methodology by analyzing quantitative and qualitative data from media and research firms, government agencies, public companies, and other sources.

CryptoPotato reported earlier this month that more than half of Americans believe crypto is the future of finance.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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