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40% of American Crypto Holders Earn Over $100K Says Federal Reserve Board

2 mins
Updated by Geraint Price
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In Brief

  • The Federal Reserve included crypto in its Economic Well-Being report.
  • 46% of crypto holders earn over $100,000, while 29% earn under $50,000.
  • Only 12% of adults held or used crypto last year.
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A report by the United States Federal Reserve Board has revealed that most U.S. crypto investors hold it for investment purposes and those who do tend to be high-income earners.

The United States Federal Reserve Board published the Economic Well-Being of the U.S. Households report in 2021, and it has much to say about crypto use in the country. The Federal Reserve Board wanted to better understand how emerging products were affecting consumers, which is why crypto was included for the first time in the survey.

The report notes that crypto was predominantly used for investments, rather than for transactions or purchases. Only 3% of adults used it for purchases and money transfers.

But perhaps the most interesting insight from the report is the fact that the vast majority of those who owned crypto for investment purposes were high-income owners. 46% of those who held crypto as an investment earned over $100,000, while 29% earn under $50,000.

The figures suggest there is much more room for adoption. Only 12% of adults held or used crypto in the past year. If crypto does find more of a footing, it could lead to much more adoption, given the small number it currently is.

As for more general statements on how consumers are doing, overall financial well-being is the highest it has been since the survey was first conducted in 2013. Despite headlines of inflation and a potential recession on the horizon, 48% of adults rated their local economy as good or excellent.

Crypto growing in stature amid market turmoil

The Federal Reserve has been paying more attention to the digital asset market, along with other U.S. agencies. The growing popularity has forced agencies to contend with these new technologies and the impact they might have on the wider markets. On its part, the Fed is considering a central bank digital currency.

Some economists believe that the Federal Reserve’s actions will lead to higher crypto and gold prices. It recently raised interest rates by 0.5%, the biggest increase since 2000.

The crypto market has tanked alongside other markets, and is still subject to the same factors that influence traditional finance. But lawmakers are worried about investor protection and a spillover, hence the increased regulatory interest. With more adoption to come and more market swings, that interest should soon turn into law.


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance...