A new study of crypto ownership

Employing representative data from the U.S. Survey of Consumer Payment Choice, we disprove the hypothesis that cryptocurrency investors are motivated by distrust in fiat currencies or regulated finance. Compared with the general population, investors show no differences in their level of security concerns with either cash or commercial banking services. We find that cryptocurrency investors tend to be educated, young and digital natives. In recent years, a gap in ownership of cryptocurrencies across genders has emerged. We examine how investor characteristics vary across cryptocurrencies and show that owners of cryptocurrencies increasingly tend to hold their investment for longer periods.


Moving from a lower category of education to a higher one increases the probability, on average, of recognising at least one cryptocurrency by around 8.7 to 11.1 percentage points…Being a man in the US increases, on average, the probability of knowing
about at least one cryptocurrency by between 9.6 and 12.1 percentage points.

That is from a recent paper by Raphael Auer and David Tercero-Lucas, via Shaffin Shariff.  Data are from 2019.



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