Fed: Americans View Digital Assets as an Investment Vehicle

According to the Fed’s annual report on the well-being of US households, most Americans view digital assets as an investment vehicle, not a means of payment.

According to the document, 12% of adult citizens have owned or interacted with cryptos somehow, whereas only 2% have used them for purchases, and only 1% have used them to send funds.

13% of those who used digital assets as a means of payment did not have traditional bank accounts, and 27% did not have a payment card. Almost 6 out of 10 respondents made less than $50,000 a year, and only 24% made more than $100,000.

In the group that considers digital assets for investment purposes, 99% had a bank account, 46% had an income above $100,000, and only 29% earned half as much.