Crypto ownership isn’t rising with recent market growth, Fed survey claims
Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.
According to United States Federal Reserve research, the rate of cryptocurrency ownership isn’t growing in tandem with the crypto market’s recent resurgence.
“Recent growth in the [crypto] market has not been accompanied by an increase in ownership in our survey population,” the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) said in a Sept. 6 report.
The CFI collected data on cryptocurrency ownership through surveys between January 2022 and July 2024 using the price of Bitcoin (BTC) as a proxy to determine that the depths of crypto winter occurred in late 2022.
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Author: Martin Young
