Based on a study conducted by Coinbase and Morning Consult, it has been found that one-fifth of the American population owns digital currencies. The majority of the participants in the survey believe that blockchain and digital assets hold the key to the future.
The survey was carried out among over 2,000 US citizens, and it revealed that a whopping 80% of respondents felt that the current financial system was unjust and catered to the interests of the privileged few. As a result, 67% of Americans are demanding major reforms or a complete overhaul of the financial system.
The study also discovered that despite numerous cryptocurrency-related bankruptcies and the collapse of the FTX exchange, 20% of Americans own crypto assets.
Interestingly, 76% of cryptocurrency holders are optimistic about the potential of blockchain and digital assets. This positive outlook is shared by the majority of Millennials (55%) and Generation Z (54%), regardless of whether they own digital currencies or not.
The report highlights the increasing use of cryptocurrencies to address real-world issues, such as facilitating faster and more cost-effective international transfers. Furthermore, stablecoins are making financial services more accessible to people who don’t have bank accounts.
Given the rising popularity of digital currencies, the survey results should be taken into consideration by lawmakers and regulators when developing rules for the cryptocurrency market.