Here’s How Many Americans Bought Crypto, According to JPMorgan

According to data recently published by JPMorgan Chase, 13% of Americans transferred funds into a crypto-linked account as of June.

Unsurprisingly, the adoption of cryptocurrency accounts coincided with significant Bitcoin price increases.

The report, which covers data from the period 2015-2022, shows that retail investor outflows to crypto accounts substantially exceed inflows from the same accounts. However, following a recent price correction, the net direction of transfers gradually became more balanced in early 2022.

JPMorgan has found that millennials tend to be the most crypto-friendly demographic group, which is in line with similar studies. Baby Boomers, on the other hand, are yet to warm up to the nascent asset class, with only 4% making transfers to crypto accounts.

Men are also, as expected, more engaged in crypto buying than women. In fact, every fourth millennial man has purchased crypto in the U.S., JPMorgan data shows.

When it comes to race, Asian Americans tend to have the highest involvement rate in crypto (27%). Black and Hispanic Americans are at 21%. White Americans have the lowest crypto involvement per capita among all races (20%).

Wealthier Americans are also more likely to dabble in crypto, according to the findings.

People without a college degree also tend to have higher implied crypto purchase prices. More than half of Americans made their average crypto transfers when Bitcoin was trading above $40,000, which suggests that these buyers are sitting on substantial losses.

The largest cryptocurrency is currently trading slightly above the $17,000 level.

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