Federal Reserve Survey: Cryptocurrency ownership rate has not increased with market recovery, but purchasing intention rises

A report released by the Consumer Finance Institute (CFI) of the Federal Reserve Bank of Philadelphia on September 6 shows that cryptocurrency ownership did not increase with market recovery. The survey showed that from January to October 2022, the rate of cryptocurrency ownership dropped from 24.6% to 19.1%. Despite a market recovery over the next 18 months, the holding rate was only 15.4% in January 2024. During Bitcoin's price peak in March and halving period in April, there was no significant growth in holdings.

However, researchers pointed out that this year's price rise seems to have driven an increase in future purchase intentions. During the crypto winter of 2022, buying intention fell from 18.8% to 10.6%, but as the market recovered, by April 2024, there were still about21 .8% respondents who said they might Buy cryptocurrencies.