Thursday, March 28, 2024

Americans own crypto

by Hideo Nakamura
Americans own crypto

Americans Own Crypto: An Overview

Cryptocurrency is increasingly becoming a popular asset class among Americans. As of 2021, an estimated 7 percent of American adults own some form of cryptocurrency such as Bitcoin or Ethereum. Additionally, 11 percent are reported to be somewhat interested in investing in crypto assets and 46 percent report having heard about it but not yet invested.

The movement towards wider acceptance has been furthered by the increasing number of financial institutions that now offer their customers access to digital currency services. This includes large banks such as JPMorgan Chase and Goldman Sachs who have both launched cryptocurrency trading desks earlier this year. Meanwhile, payments companies like Square Inc and PayPal Holdings Inc also allow their users to buy and sell cryptocurrencies within their platforms which further drives consumer familiarity with the asset class into mainstream circles while simultaneously making it easier for people to start building portfolios themselves without needing specialised tools or dedicated accounts at traditional financial institutions.

Furthermore, another factor driving up ownership levels could be attributed to recent tax changes made by the US government concerning capital gains on investments including cryptocurrencies held for more than one year being eligible for long-term capital gain rates instead of ordinary income rates resulting in significantly lower taxes when disposing off these positions if they were held over a certain period time frame . These considerations may prove attractive enough incentives for many investors looking at adding digital currencies into their investment strategies moving forward due solely based on potentially higher returns generated from them during different market conditions compared with traditionally accepted ones given current economic environment globally .

Overall , there is no doubt that more Americans will continue embracing cryptoassets as part of regular investment choices going forward given increased availability through various channels available today coupled with favourable pricing structure currently offered compared against non-crypto counterparts under same taxation regulations applicable across all assets classes regardless type ..

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