The United States of America plays far less of a crucial role in cryptocurrency than most people would think. The ongoing regulatory uncertainty is partially to blame for this trend. A new survey by Finder confirms some Americans do own substantial amounts of cryptocurrency, yet most of them are still not taking too many chances with their money.
The American Holders
Cryptocurrency owners can potentially be found in every country where internet connectivity is available. Although it remains a relatively risky form of investment – and poses no threat to traditional currencies whatsoever – there are some merits to diversifying one’s finances. The current banking system looks anything but healthy, which arguably makes a strong case for alternative assets such as Bitcoin and bullion. The recent study conducted by Finder seems to confirm as much, although the results aren’t too spectacular.
The most interesting statistic is how Americans who own cryptocurrency own an average of $5,447 in various currencies. That is a very interesting average, considering how a lot of people would give an arm and a leg to be able to “spare” so much funds. That being said, the average funds found in American cryptocurrency wallets sit at just $360. That is a very large discrepancy that isn’t too easy to explain. One could say most of the funds are stored in more secure offline wallets, albeit that is very difficult to prove.
American Women Show an Interest
Just a few years ago, it seemed as if the number of women interested in cryptocurrency would never increase. Fast forward to today, and this situation has shifted dramatically in a positive way. The Finder study indicates the industry is still dominated by male speculators and holders. Not entirely surprising by any means, as it will prove very difficult to shift this balance of power.
What is of more interest, however, is how Finder claims 12.9 million women in the US hold cryptocurrency today. That is a very respectable figure, assuming it is somewhat accurate. Similar to their male counterparts, the women want to use Bitcoin and altcoins as a form of investment first and foremost. Cryptocurrencies are also being used for transactions by roughly one in four individuals, although all currencies fail to note any real mainstream traction in 2019. Getting more people to buy into cryptocurrencies will remain challenging, even under the best of circumstances.
The Future of Bitcoin
Unless some clear regulatory measures regarding Bitcoin and altcoins are introduced in the US, it seems unlikely that a major shift will occur. The rest of the world will continue its wait-and-see approach until the United States makes a move. That is how it has almost always been when it comes to financial innovation of any kind. For now, there is no indication much will change in this regard.