Cryptocurrencies are recognized as an investment tool in the US FRS report
Another document from the Federal Reserve Service of the United States contains information about digital assets. It says that cryptocurrencies are an investment tool that is in demand among investors.
For the first time, digital assets are recognized by the regulator as an investment instrument. The FRS report also states that 12% of US adults own digital assets.
At the same time, 46% of investors had an investment income for 2021 of $100,000 or more, and 29% of investors in digital assets earned about $50,000 over the past year.
For investments, 11% of respondents used cryptocurrency, another 2% paid for cryptocurrency purchases with Bitcoin and altcoins, and 1% transferred funds to relatives and friends. At the same time, many of those who paid for purchases do not have a bank account (13%) and a card (27%).
The popularity of cryptocurrencies was previously featured in a report by analyst Ric Edelman. He said that by the end of 2022, ⅓ of Americans will own cryptocurrencies. This indicates an increase in the adoption of cryptocurrencies in the US.
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