TechFlow news, according to Cointelegraph, the Federal Reserve's latest annual household survey shows that the number of U.S. adults reporting ownership or use of cryptocurrency declined last year to approximately 18 million.
Data from the Federal Reserve's Survey of Household Economics and Decisionmaking (SHED), released on May 21, showed that in the 12 months leading up to October last year, 7% of surveyed U.S. adults reported using cryptocurrency, down from 10% in 2022 and 12% in 2021.
Only 1% of adults said they used cryptocurrency as a means of payment or remittance—half the rate compared to 2022—while 7% reported buying or holding crypto as an investment.
The Federal Reserve's figures are significantly lower than Coinbase's long-standing claim, made during lobbying efforts, that 52 million Americans own cryptocurrency. Coinbase has not responded to this discrepancy.
