Cryptocurrency ownership among Americans anticipated to surge by 19%, reaching 33.7 million users in 2023
In the dynamic world of finance, cryptocurrencies continue to make significant strides in the United States. As of mid-2023, approximately 17% of U.S. adults have invested, traded, or used cryptocurrencies, according to a Pew Research Center poll.
### Adoption Trends by Age Group
The demographic landscape of crypto adoption is diverse, with older adults, younger adults, and middle-aged adults each playing a unique role.
Older adults (60+), despite being more vulnerable to crypto-related scams, have shown a cautious yet growing interest. In 2024, individuals over age 60 filed over 2,600 complaints related to crypto ATM scams, resulting in losses exceeding $100 million.
On the other hand, younger adults (25-34) and middle-aged adults (35-44) have been the primary adopters of cryptocurrencies. Institutional developments, such as the inclusion of Bitcoin in 401(k) retirement plans starting May 2025, indicate a growing interest among middle-aged investors.
### Overall Adoption and Outlook
Crypto adoption has been growing steadily, with approximately 1 in 6 adults involved by mid-2023. Institutional endorsement and regulatory clarity have gained momentum into 2024 and 2025, supporting broader acceptance across age groups.
The elderly, despite lower adoption rates, have borne significant losses due to scams, highlighting the need for better consumer protections. However, the trend toward institutional adoption and retirement plan inclusion points to a gradual acceptance among older working-age adults.
### Prediction for Adoption by End of 2023
By the end of 2023, crypto adoption is expected to expand among all age groups but will remain more prevalent among younger and middle-aged adults. Older adults will continue to engage increasingly, albeit with heightened exposure to risks and scams.
The market and regulatory environment are primed for continued growth and diversification of the user base across demographics. Adoption is expected to increase steadily beyond 2023 as digital assets become more integrated into mainstream financial products.
By the end of 2022, it is expected that 12.8% of the American population will own some digital currency, with the number of U.S. crypto owners reaching 33.7 million, an increase of 19%. The 18-24 age range is expected to have 3.9 million digital currency owners, while younger investors are more likely to have a positive outlook on blockchain technology and plan to hold crypto for the long term, expecting prices to increase. After younger investors, the 35-44 age group is expected to have the second-highest number of crypto owners, with 9.7 million.
As we move forward, the crypto landscape in the U.S. is poised for further expansion, with a growing number of Americans expected to own Bitcoin (BTC) this year, with 25.2 million Americans projected to own Bitcoin by the end of 2023. The coming years are forecast to see broader institutional acceptance and user base expansion across age groups.
- As the crypto landscape expands and matures, legal services related to cryptocurrencies will become increasingly necessary to address the growing complexities and potential risks associated with investing, trading, and using digital assets.
- To stimulate wider adoption and mitigate risks among older adults, there's a growing need for financial institutions and technology companies to collaborate on creating secure and user-friendly interfaces for managing cryptocurrencies, making investing in digital assets more accessible and appealing to this demographic.
