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Bitcoin: the number of crypto holders on the rise in the United States

The crypto-friendly United States – Structurally, theadoption from Bitcoin (BTC) and cryptocurrencies in general is rising in the United States. According to this study by JP Morgan Chase, it would have been quadrupled during these last few years.

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Adoption of cryptocurrencies in the United States: an increase of 10 points

A news study from JPMorgan Chase, which analyzed transactions related to checking accounts belonging to more than 5 million customer figures, reveals the on the adoption of cryptocurrencies in the United States.

According to the recently released research report, approximately 13% of the American population would have already transferred funds to a crypto account. This percentage was not only 3% before the start of the pandemic of Covid-19, in 2020.

New crypto users on a weekly basis – Source: JPMorgan Chase

The study also showed that the first purchases of cryptocurrencies, which individuals belonging to the JPMorgan Chase sample made from 2015 to 2022, take place during a “variation in the monthly price of the tracked price greater than 25%”.

Net flow of cryptos: from custody to rebalancing

The research report also looks at net flow of transactions investors individuals from or to crypto accounts. From 2017 to 2022, the flow to crypto accounts would be equivalent to double from that of “money coming back to traditional checking accounts”.

During this period, retail investors tended to keep their cryptocurrencies in their crypto accounts. Nevertheless, the ratio between these flows would have balanced out since the beginning of the bear markets, in the first half of this year.

The fall in the price of cryptocurrencies during this crypto winter and the decrease in the household savings rate in the United States since the pandemic would be the cause of the variation in the value of this ratio.

Profile of crypto investors: the youngest men very enthusiastic

The study also profiles US retail investors who are most likely to buy cryptocurrencies. The propensity of men to acquire cryptocurrencies would thus be higher than that of women.

Age is also a determining factor. The younger investors would buy a lot more cryptocurrency than older people. An analysis of the sample showed that 25% of men belonging to the generation of millennials acquired cryptocurrencies, compared to only 5% for investors of the same sex, who are baby boomers.

Are cryptocurrencies the new American dream ? A post-bearish post-market review will be needed to determine whether major events this year, such as the collapse of Terra, Celsius, and FTX, had a cyclical or structural impact on cryptocurrency adoption in the United States and around the world. The other countries.

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