Vice President JD Vance and two of President Donald Trump’s sons had been in Las Vegas on Wednesday to speak about cryptocurrencies and how the monetary instrument can help atypical individuals.
Vance told attendees at the Bitcoin 2025 conference that “we have now a as soon as in a era alternative to unleash innovation and use it to enhance the lives of numerous Americans.” Based on the numbers, there’s a protracted solution to go.
Information reveals about 1 in 6 U.S. adults — 17% — have ever invested or used cryptocurrency, whereas half that — 8% — have used it prior to now yr.
Survey information from Pew Analysis reveals crypto use is highest amongst males 18 to 29 years outdated and lowest amongst girls 50 and older.
And new survey data from the U.S. Federal Reserve discovered that 7% of U.S. adults have used crypto prior to now 12 months as of 2024, down from 12% in 2021.
Numbers from business teams paint a rosier image: According to a 2024 survey, 14% of U.S. adults at the moment personal Bitcoin, the most well-liked of the varied cryptocurrencies. With roughly 260 million adults within the U.S., that works out to 36 million adults with Bitcoin.
Comparatively, 26% of U.S. households personal shares or mutual funds, and 60% have retirement accounts, in keeping with a U.S. Census Bureau report.
The Trump administration has more and more courted the crypto viewers. Final week Trump held a dinner for buyers of the president’s personal meme coin. On Wednesday the Labor Department withdrew guidance advising employers to be cautious about making cryptocurrency investments obtainable to their workers 401ks.
Vance advised the group Wednesday “we would like our fellow People to know that crypto and digital property, and significantly Bitcoin, are a part of the mainstream financial system and are right here to remain.”
He touted Bitcoin’s skill to help People with no banking account (in 2023, 4.2% of U.S. households are unbanked, in keeping with the FDIC). “Crypto has remodeled how People transact with each other,” he mentioned. “It’s expanded entry to banking for many who could not in any other case have had it.”
