More than half of Americans surveyed (53%) agree that “cryptocurrencies are the future of finance,” including 59% of Democrats and 52% of Republicans, with 44% of Americans noting that they expect to have crypto as part of their investment portfolio in the future, Grayscale said.
“As we approach the midterm election, U.S. voters are considering the intersection of cryptocurrency, traditional finance, and the state of the economy,” Grayscale CEO Michael Sonnenshein said in the statement. “This survey reinforces that crypto continues to generate diverse, mainstream investor interest and engagement. As Americans consider their financial future, policymakers and regulators have an opportunity to protect investors through greater regulatory clarity and guidance, while allowing market participants, like financial advisors, to enable access to well-informed crypto offerings.”
The poll found that nearly half of Americans are familiar with cryptocurrency (49%), and familiarity rises among younger investors, including 70% of those aged 18-34 and 62% of those aged 35-44. Familiarity, the poll states, is also higher among minority groups, including 60% of Black and 62% of Hispanic Americans, compared with 43% of white Americans.
About one-third of Black (34%) and Hispanic (32%) Americans, as well as those under 45 years old (37%), say inflation and the current economic climate have made them more interested in cryptocurrency, according to the poll’s results, Grayscale noted in a release.
Nearly one-third of Black (30%) and Hispanic (32%) Americans, as well as those under 45 years old (33%), already own cryptocurrency.
Among those who have invested in cryptocurrency, “only one quarter (25%) invested due to a recommendation from a financial advisor compared to 41% who read, saw, or heard something that piqued their curiosity, and 37% who received a recommendation from a friend or family member,” Grayscale said in a statement.