Fed Survey: Cryptocurrency Ownership Rates Did Not Rise with Market Recovery, But Purchase Intentions Rose

On September 9th, according to Cointelegraph, the Consumer Finance Institute (CFI) of the Federal Reserve Bank of Philadelphia released a report on September 6th showing that the Cryptocurrency holding rate did not rise with the market recovery. The survey showed that from January 2022 to October, the Cryptocurrency holding rate dropped from 24.6% to 19.1%. Despite the market recovery in the following 18 months, the holding rate was only 15.4% in January 2024. During the peak price of BTC in March and the Halving in April, the holding rate did not show a significant rise. However, researchers point out that this year’s price pump seems to have led to an increase in future buying intentions. During the Cryptocurrency winter in 2022, the buying intention dropped from 18.8% to 10.6%, but with the market recovery, by April 2024, 21.8% of respondents said they might buy Cryptocurrency.