Cryptocurrency adoption in the United States has remained relatively stable, according to the latest survey released by the Pew Research Center.
Roughly one-in-five U.S. adults (19%) have invested in or used digital assets.
This 19% figure is roughly on par with the 16% adoption rate recorded in 2021.
At the same time, there is a significant political divide when it comes to crypto
The partisan divide
Historically, cryptocurrency use was evenly split across political affiliations. Before this year, Republicans and Republican-leaning independents were just as likely as Democrats and Democratic leaners to say they had engaged with crypto.
However, the new survey reveals that Republican crypto use has ticked up significantly from 16% in 2021 to 22% today. Meanwhile, usage among Democrats has held entirely steady at 17%.
The current administration has vocally set out to make America the “crypto capital of the world,” which is why the data is now entirely surprising.
A demographic divide
Young men continue to stand out for their use of crypto. A staggering 38% of men ages 18 to 29 say they have ever invested in, traded, or used cryptocurrency, compared to just 15% of women in the exact same age bracket. This trend holds for men ages 30 to 49 (40% report using crypto).
Wealthier Americans are also adopting the asset class at higher rates. About one-in-four adults (27%) in upper-income households have invested in or used crypto.
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