A recent Gallup poll found that the level of U.S. adults who owned a cryptocurrency has gone up eight times since 2018, yet most people are still reluctant. Cryptocurrencies are seeing more utility and regulatory clarity in the near future, but mass adoption is still limited mainly by risk aversion, lack of knowledge and demographics.
Increasing Ownership but Doubts Remain
A Gallup poll conducted June 2 – June 15, 2025 found that approximately 14% of U.S. adults report owning cryptocurrency, up from just 2% ownership rate of U.S. investors in 2018. Even among Americans who have $10,000 or more in stocks, bonds or mutual funds, 17% report owning crypto now, verses 6% ownership in 2021.
Nevertheless, 60% of respondents reported no interest in ever buying crypto and only 4% are planning crypto purchases in the near term. Another 17% were undecided; they reported that they have “a little interest” in crypto, but have no plans to invest in the near future.
Who Owns Crypto—and Who Does Not?
The survey shows big divides in demography:
- Male, 18 to 49-year-olds, have the highest incidence of ownership, with 25%. In contrast, only 12% of males aged 50+, and 8-9% of females in each age cohort own crypto.
- College graduates and higher-income households (~$90,000+) participate in crypto (~19%) more than lower income and older adults (~7-9%).
- Political perspectives matter: 18% of conservatives reported ownership of crypto, compared to 10% of Democrats.
This imbalance mirrors trends tracked by JPMorgan, which found crypto usage most prominent among Millennials (about 20%) and far lower among Generation X and Baby Boomers, with men typically twice as likely as women to transfer funds into crypto accounts.
Perceived Risk and Low Understanding
Even with increased visibility, risk perception is still very high. For investors in the U.S., close to two-thirds (64%) consider crypto “very risky,” similar to about 60% in 2021. Overall, totalled together, 55% of U.S. investors call it “very risky,” and 32% call it “somewhat risky.”
Awareness is nearly universal—just 5% said they hadn’t heard of crypto—but knowledge is lacking: only 35% feel they actually understand how it works, and familiarity is higher among younger men and wealthier groups. Another survey conducted by the National Cryptocurrency Association found that 90% of non-owners identified lack of knowledge as their primary barrier, with 49% admitting they don’t really understand how crypto works, and 41% unsure about what decentralization actually means.
Institutional Support vs. Retail Reluctance
The United States regulatory environment is changing. The new GENIUS Act has provided a clearer legal structure around stablecoins and could promote wider use by companies and consumers. At the same time, larger players—asset managers, banks, payment companies—are exploring how to integrate crypto into existing systems.
As that happens, investors in the younger generations (Gen Z, and Millennials) are creating momentum towards digital assets, and speculative products, as they tend to see crypto as something they are more familiar with, and equates with transparency and autonomy. However, many retail investors are still cautious and often position crypto as a small speculative piece of their larger portfolio.
The Road Ahead
Although there has been tremendous growth in U.S. crypto ownership, cryptocurrency remains a niche asset class. Only 4% of adults consider it the best long term investment, even further behind stock ownership and real estate ownership in both acceptance and confidence.
Broader adoption is now linked to improving public understanding, reducing perceived risks, and building trust. Younger, technology-enabled investors are aging and accumulating resources, which could ultimately shape the U.S. market. Cryptocurrencies will remain largely considered an extravagant, risky bet for a selective group of Americans for now.
