The wealthiest crypto owners don’t spend it
There’s a wealth gap in cryptocurrency ownership: Those who invest in crypto are better off than those who spend or send it.
The US Federal Reserve for the first time included questions about cryptocurrency in its annual economic well-being survey. The Fed’s results, released in a report (pdf) on May 23, show a split in the roughly 12% of US adults who say they own crypto.
About 10% said they bought or held cryptocurrencies such as bitcoin or ether as an investment in the last year, while about 2.5% said they either bought something with crypto in the last year or sent it to family and friends.
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