Crypto ownership isn’t rising with recent market growth, Fed survey claims

Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.

The rate of cryptocurrency ownership isn’t growing in tandem with the recent resurgence in the crypto market, according to United States Federal Reserve research.

“Recent growth in the [crypto] market has not been accompanied by an increase in ownership in our survey population,” the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) said in a Sept. 6 report.

The CFI collected data on cryptocurrency ownership through surveys between January 2022 and July 2024 using the price of Bitcoin (BTC) as a proxy to determine that the depths of crypto winter occurred in late 2022.

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Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.
The rate of cryptocurrency ownership isn’t growing in tandem with the recent resurgence in the crypto market, according to United States Federal Reserve research.“Recent growth in the [crypto] market has not been accompanied by an increase in ownership in our survey population,” the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) said in a Sept. 6 report.The CFI collected data on cryptocurrency ownership through surveys between January 2022 and July 2024 using the price of Bitcoin (BTC) as a proxy to determine that the depths of crypto winter occurred in late 2022.Read more