Only 14% of US Adults Own Bitcoin or Other Crypto – Still Early Days?

[mahmood1356]

And some still FUD about crypto and overall claiming there is no way to enter the space because BTC is so big already..

Imagine what happens when the percentage would be truly 30% 

Consider all mathematical calculations in percentages. Let's take $100,000 Bitcoin as the base 100%, go back and review the price history, multiply one by the base percentage, and the time and future price of Bitcoin can be roughly calculated. This is my opinion.

[Zlantann]

14% is actually not a small number; if the survey data is correct, we are talking about 14% of an entire adult population of a country. The number is big, and it will increase over time as long as there are no clear policies that will prevent people from owning Bitcoin and the tax is not much as well.

It is estimated that the US has about 340.1 million people. 14% of that amount is 47,614,000 people which is not a small number. It is more than the population of some countries. With the publicity Bitcoin is getting from the US government's adoption, it will be faster in the next few years.

How was the survey conducted, or where were the data gathered?. I'm not sure though, but there is a part of me that believes that the figures/percentage ought to be more than this.

Surveys might have some lapses due to errors.  But I don't think it should be more because not everyone in the US can afford to own Bitcoin. Some people are struggling just to survive. Others lack crypto education.

[Bitcoin Smith]

Do you think this is massive adaptation or just the beginning? I think after Trump won, US citizens started thinking about Bitcoin and crypto. Slowly they are entering into crypto; I believe next year the crypto owner will be double. Because the survey says it's a slight increase from previous years. However, I am just wondering ifUS adult citizens are still afraid to buy Bitcoin. Even the government of the US is adaptive regarding Bitcoin reserves.

Do you think this is still an early stage?

We are still in the early stages of adoption, they might heard about the term bitcoin but how many of them really know or understand what is bitcoin and how it works? So if bitcoin to make it to every household then people need to understand atleast the basic things, we never know people will ever be interested in learning but as of now we are definitely on the right path of making it happen.

14% makes sense though, just like any country the wealth distribution is not equal in US so they just prefer to stay alive and survive next month instead of thinking their days after a decade so dew got the motivation or affordability to invest in crypto.

[passwordnow]

However, I am just wondering ifUS adult citizens are still afraid to buy Bitcoin.

I think that they do because they're conservative and not used to this kind of asset. It's new to them and that's why the numbers are not that much compared to the other assets that's known to the world. But with that survey and if the data says that there's a slight increase then it's a good sign that people are already looking at it and having the thought that if the big institutions are on it, that's the sign for them to go after it as well.

Do you think this is still an early stage?

Yes, the numbers that surveys like these shows that it's definitely on the early stage.

[EFS]

I think even this number is quite high. Most of the people who say they own Bitcoin have probably bought it through an exchange and have never even set up a real Bitcoin wallet in their lives. From this perspective, it might still feel like we're in the early days but when you look at Bitcoin's price, it's clear we're not that early anymore.

Another striking point in the research is that 60% say they would never consider buying Bitcoin. I think this percentage will decrease as generations change. It's natural for the oldheads to be skeptical about it. Kids born into the internet age have a much more positive view of Bitcoin.

[Lida93]

To be honest, I thought the US Bitcoin or crypto users would be at least above 30%, but surprisingly, just 14% of the adult total population own Bitcoin and other cryptocurrencies. Recently Gallup’s new survey publisheddata on what percentage of US citizens own Bitcoin and other cryptocurrencies.

Source:CT

Do you think this is massive adaptation or just the beginning? I think after Trump won, US citizens started thinking about Bitcoin and crypto. Slowly they are entering into crypto; I believe next year the crypto owner will be double. Because the survey says it's a slight increase from previous years. However, I am just wondering ifUS adult citizens are still afraid to buy Bitcoin. Even the government of the US is adaptive regarding Bitcoin reserves.

Do you think this is still an early stage?

First, I don't trust the extent to the scope of this survey when considering the total number of adult citizens of the usual compared to the number of adult citizens who participated in the survey that led to the arrival of this 14% findings.

The survey technique could probably be a purposive survey which didn't cover the total number of the US citizens to get to this data or perhaps not even up to 70% of the citizens participated in the survey leading to this 14% bitcoin adoption conclusion.

Perhaps most of the target weren't bitcoin owners, enthusiasts but more of bitcoin skeptics participated.

[CryptoBuds]

I kind of get it if only 14% of US citizens have Bitcoin or other cryptocurrency. This may be as a result of the past administration's criticism towards cryptocurrency. However, right now the ties have changed, and the current president wants to make the US the crypto capital of the world. He has backed his words with action by passing 3 crucial bills into law recently. I know the percentage of citizens that are still skeptical and those not interested in crypto are still very high, but with a pro-crypto president at the helm of affairs and more favourable legislation in place, I believe the numbers will progressively increase.

This 14% also include Bitcoiners that have their Bitcoins residing in non custodial wallets? There is no way to track a Bitcoiner that is not present on exchange like Binance. I am sure the exact number of people having Bitcoin or any-other crypto is now much higher then 14%. Moreover Bitcoin is a global currency not limited to one to two countries. In the end it matters how many people in the world are well aware and possessing Bitcoin or other crypto and this figure is now quite satisfactory.  

I think this is just a guess work and does not have that accurate estimation of how many people owns Bitcoin in the United States. I don't really think that such value is valid looking at so many factors involved. I don't really know what standard they used to guess how many people in the United States own Bitcoin but even at that such number is absolutely low compared to what the number could be.
If the United States is among the countries that own larger amount of Bitcoin, so why would the number of her citizens holding Bitcoin be as low as 14%? Hahaha, I would not be surprised but I don't trust such guess work because it is below the average.

That number may not be completely accurate but at least they have research, surveys and reference data to come up with that result. So it will be more reliable than any of our predictions or guesses because we only rely on our emotions and feelings to make predictions.

Do any of you have any convincing evidence that number is wrong? Obviously, you are just speculating based on your emotions, and you don't believe these results because they are too low compared to your expectations.

I don't know how the situation is in the US, but in my country or the area I live in. Although everyone knows about bitcoin and cryptocurrencies, the number of people investing and owning it is still limited. So I believe in this result and it is not surprising. Bitcoin and cryptocurrencies are not as popular as many people think.

[buwaytress]

As crazy as it sounds, yeah. I actually think it's still early days. 14% is a lot of wiggle room to play with. How many of those own significant amounts? How many of those actually own the keys (and solely, at that) to their coin? How many actually own derivatives of and aren't aware? And, assuming the US is the top benchmark, we can begin to assume lower percentages of adults in other developed countries, descending order.

Yeah, it's still early days.

[o48o]

This is not a good indicator. I mean only 10.8% of US adults own gold while 11.6 percent owns silver, so does it means it's early days for gold and silver as well?

Is the main goal to force everyone owning it? Because 14% is freaking huge number. If anything, this is indicator that people trust less in a dollar and US government.
-cut-

That's not a good comparison. I don't know anyone who owns gold or silver, and I know many people who are decently rich. Those things are old and outdated instruments that are not interesting and the returns on them are terrible. You can use gold as part of a diversification strategy but other than that it sucks too. Because of this I disagree that 14% is huge. We are talking about groundbreaking technology. Does internet have a 14% penetration rate?  

Wow. Because nothing old is cool and automatically outdated, even if it would have actual substance? And how you knowing "decently rich people" have anything to do with this?

And yeah, i have made a mistake to compare bitcoin to internet in the past as well, but i later i realized that they are nothing alike. Bitcoin wouldn't make any sense without computers connecting to each other, but internet would work fine without Bitcoin.

Don't get me wrong, bitcoin is interesting innovation, but it's mainly a decentralized ledger that is currently using more power then country of Finland (Minimum TWh). Someone could argue it might be too much power for decentralized ledger, especially when only 3 mining pools have 59.5% market share of it. I am hesitant to use work "groundbreaking" when the cost of mining is getting closer and closer to out weight the benefits.

[Josefjix]

Do you think this is massive adaptation or just the beginning? I think after Trump won, US citizens started thinking about Bitcoin and crypto. Slowly they are entering into crypto; I believe next year the crypto owner will be double. Because the survey says it's a slight increase from previous years. However, I am just wondering ifUS adult citizens are still afraid to buy Bitcoin. Even the government of the US is adaptive regarding Bitcoin reserves.

Do you think this is still an early stage?

Not only that Trump won the election, but the mobile payment Cashapp has been the easiest payment gateway for easy acquisition of Bitcoin within the US citizens, almost all the US citizens are using Cashapp for transferring money while Cashapp integrated an onchain Bitcoin payment method from a user above 18 year old.

You have to complete ID verification to make payment via Bitcoin, and that is the reason why adults are having Bitcoin mostly in the US.

[mv1986]

As crazy as it sounds, yeah. I actually think it's still early days. 14% is a lot of wiggle room to play with. How many of those own significant amounts? How many of those actually own the keys (and solely, at that) to their coin? How many actually own derivatives of and aren't aware? And, assuming the US is the top benchmark, we can begin to assume lower percentages of adults in other developed countries, descending order.

Yeah, it's still early days.

I think those two aspects you mentioned would probably really push that number of serious Bitcoin (or other crypto) holders down.

That "other crypto" thing is misrepresenting the overall number significantly I would guess. I have a friend who for fun did some browser mining and would answer "yes", have another one who owns 0.01 ETH because I sent him some like six years ago and he never got into it afterwards, but still "owns" 0.01 ETH.

This mere "owning some crypto" doesn't mean a whole lot. My guess is the number is far below that 14%. People who seriously deal with the topic, own a decent amount relative to their wealth situation.

Even though you are right, I wouldn't count the "not your keys not your crypto" in this case if you want to find out how many people are seriously involved with it. This doesn't mean I am all for that slogan, which is not just a slogan, but one with drastic practical consequences. But if you want to understand how many there are out there who could still get into the market for example, then I think there will always be a significant number of people who choose to outsource custody.

[Lucius]

~snip~
Another striking point in the research is that 60% say they would never consider buying Bitcoin. I think this percentage will decrease as generations change. It's natural for the oldheads to be skeptical about it. Kids born into the internet age have a much more positive view of Bitcoin.

It is even more strange that this was said by people in a country where Bitcoin is literally everywhere, especially when it comes to the media or when it comes to the biggest companies that are involved in business involving Bitcoin. However, on the other hand, I don't even think that those 60% are only older people, but that many people in that country simply value other forms of investing more because the system and their parents have greatly influenced their attitudes.

New generations will certainly be much more interested in such investments, but I think they will still choose some other things and not Bitcoin - even today, young people mostly invest in altcoins because it is served to them as something desirable and they are promised a big profit.

[tread93]

To be honest, I thought the US Bitcoin or crypto users would be at least above 30%, but surprisingly, just 14% of the adult total population own Bitcoin and other cryptocurrencies. Recently Gallup’s new survey publisheddata on what percentage of US citizens own Bitcoin and other cryptocurrencies.

Source:CT

Do you think this is massive adaptation or just the beginning? I think after Trump won, US citizens started thinking about Bitcoin and crypto. Slowly they are entering into crypto; I believe next year the crypto owner will be double. Because the survey says it's a slight increase from previous years. However, I am just wondering ifUS adult citizens are still afraid to buy Bitcoin. Even the government of the US is adaptive regarding Bitcoin reserves.

Do you think this is still an early stage?

There is no way that this little survey represents the entire population. Those numbers sound off, do they provide any sources or citations to how they even came to this number? Anyways I hope its bigger. Some people juat dont see what's happening though and they juat dont get it. Maybe they get confused or just give up cause they think they already missed the boat but it is still at dock!!!

[X-ray]

If you take into account another developed countries adoption rate, it's obvious we're still on an early stage.

In the US good amount of people knows bitcoin but only few already take their first step into owning crypto, the trump's bullish sentiment with bitcoin also helps making bitcoin a lot more popular.

But in the other parts of the world people still have no idea about bitcoin and its advantages, I'd expect the global adoption rate to be really low that's why I think we still have a huge upside potential.

[OgNasty]

I don’t think this is really accurate anymore. There are multiple companies in the S&P 500 that hold Bitcoin on their balance sheet and most people have exposure to that in their retirement accounts. In September when Strategy is added to the index people will have even more exposure to Bitcoin.

[Smack That Ace]

I'd expect the global adoption rate to be really low that's why I think we still have a huge upside potential.

The truth is that bitcoin/crypto adoption is still very low, it is not as popular as many people think.

One mistake that crypto investors are making is that most of them just tend to watch the news and make friends with other crypto investors, we often have a habit of not paying attention to irrelevant news and people who are not investing in bitcoin. So we think it has become very popular but in reality, there are not many people investing in bitcoin yet.

The most realistic way to assess is to survey your family, friends, and neighbors. We will see that not as many people invest in bitcoin as we imagine. Yes, bitcoin's potential is still huge.

[michellee]

The adoption is in the next early stage because people are still afraid to buy Bitcoin. They need more proof that they can see and make them confident to invest in Bitcoin. Although the government of the US has started to use Bitcoin as its reserves, that still does not make its people follow their step.

But we will see massive adoption in the next years especially if they see Bitcoin price can increase so high. It is normal if they are still afraid because Bitcoin is a new thing for them. They need to research before deciding so that will not regret it later.

If they can accept the risk and the fluctuation of the Bitcoin price, they will invest in Bitcoin. They will see the benefit of Bitcoin to them and will follow what the other people did.

[Gallar]

~Snip

Do you think this is still an early stage?

Yes, I think this is the initial stage, because as far as I know, the previous US president wasn't very pro-Bitcoin or cryptocurrency. So, with this in mind, the American public was certainly quite reluctant to invest in Bitcoin. But now that the US is back under the leadership of Donald Trump, who is arguably very pro-Bitcoin and cryptocurrency, this has re-opened the American public's perception to buying Bitcoin or other cryptocurrencies. So, I think with this in mind, the number of people owning Bitcoin in the US is essentially still in the early stages or the adaptation phase. So, next year, Bitcoin usage in the US is likely to increase rapidly. Essentially, the US government is currently very friendly towards Bitcoin and cryptocurrency. So, with this in mind, the American public will certainly be more open about owning Bitcoin or other cryptocurrencies.

[FortuneFollower]

^ I hope they won't go into other territories along the way and be focused on BTC primaraly.

Sure, they've said that they would put their eyes on other coins too, but hey - we all know where the biggest potential lies.

[mv1986]

^ I hope they won't go into other territories along the way and be focused on BTC primaraly.

Sure, they've said that they would put their eyes on other coins too, but hey - we all know where the biggest potential lies.

If by other territories you mean look into other cryptocurrencies, that's already happening. I can't remember all the details of their first vague announcement, but as far as I recall it was several coins, including Ethereum, Ripple and I think some more. It's not only about biggest potential: if Bitcoin succeeds, trash coins will succeed too (at least some of them) and if Bitcoin is facing issues, other coins will inevitably face issues.