More Investors Enter Crypto But Keep Multiple Financial Service Providers - Survey
Crypto ownership is on the rise, but investors are not abandoning traditional financial services as a result of their intensifying interest in cryptoassets. On the contrary, crypto investors are more likely to use multiple financial services providers than the general population is, suggests a recent report by global business intelligence firm Morning Consult.
The report, focused on consumer banking and payments, and based on survey interviews of more than 50,000 adults across the Americas, Europe, and the Asia-Pacific region, indicates crypto’s ascension to mainstream status.
It also advises readers to brace themselves for a crypto boom in 2022.
Some 24% of consumers in the company’s global survey reported household ownership of crypto, an increase of 2 percentage points from last July.
“Latin American countries still have among the highest rates of cryptocurrency ownership, but European nations Germany, Spain and the UK have grown significantly in the past six months,” Morning Consult said.
Crypto ownership reported a surge in July 2021, most likely due to the bitcoin (BTC)’s price drop and surrounding media coverage, according to the report.
Millennial men and Gen Z adults are still the most common newcomers, suggests the report, stating:
“[D]emographically, the new crypto owners looked very similar to those who already owned crypto: They were mostly high-earning, millennial men,” the study says. “Gen Z adults have also shown strong growth in cryptocurrency ownership and will continue to be instrumental to the success of cryptocurrency more broadly.”
In contrast, baby boomers remain predominantly disinterested in cryptoassets, with crypto ownership ranging between 6% and 8%, as indicated by data from the survey.
Meanwhile,
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