Tracking Trends in Cryptocurrency
Cryptocurrency and its underlying technology stand to fundamentally alter the financial services industry, particularly the way consumers manage their finances and transact with one another. Or it could all be just a passing fad. The speed of cryptocurrency’s adoption and the uncertainty about its future mean it is imperative that financial services leaders track its developments.
The methodology for the tracker is included at the bottom of this page.
Key Takeaways
Men still outpace women in crypto ownership. Nearly a quarter of men (24%) say they own cryptocurrency, more than twice the share of women who report owning crypto. A similar gap exists in purchase intent. Three in 10 men say they intend to buy crypto in the next month compared with 14% of women.
Consumer demand for bitcoin is unchanged despite new spot bitcoin ETFs. Though industry excitement for bitcoin is growing with SEC approval of new spot bitcoin ETFs, consumer demand has not risen to match. Twenty-two percent of U.S. adults say they are likely to buy crypto in the next month and 24% say they are likely to buy bitcoin, relatively consistent with the prior quarter.
Consumers see more harm than good when it comes to cryptocurrency. One in three consumers say cryptocurrency is more harmful to society than it is beneficial while 23% say its benefits outweigh the risk.
Cryptocurrency Ownership
Bitcoin Ownership
Reported Cryptocurrency Sales
Anticipated Cryptocurrency Purchases
Familiarity With Cryptocurrency and Related Topics
Trust in Cryptocurrency and Related Topics
Opinion on Cryptocurrency Regulation
Opinion on Cryptocurrencies’ Impact on Society
Source of This Data
Methodology
This tracker relies on data collected quarterly through Morning Consult’s proprietary survey research capabilities. The interviews are conducted online, and the data are weighted to approximate a representative sample of U.S. adults based on gender, educational attainment, age, race and region. Results from the full survey have a monthly sample size of 4,400 U.S. adults and an unweighted margin of error of +/- 1 percentage point.
In October 2022, Morning Consult changed the survey frequency of our Cryptocurrency Insights Hub. To request monthly data from January 2022 to August 2022, please reach out to [email protected].
About Morning Consult
Morning Consult is a global decision intelligence company changing how modern leaders make smarter, faster, better decisions. The company pairs its proprietary high-frequency data with applied artificial intelligence to better inform decisions on what people think and how they will act. Learn more at morningconsult.com.
Email [email protected] to speak with a member of the Morning Consult team.
The author would like to thank Charlotte Principato and Jaime Toplin for their contributions to this research.
Caroline Smith is a manager of financial services intelligence at Morning Consult, where she analyzes high-frequency data to help the company deliver real-time insights to the financial services sector.
