73% of American Crypto Holders Plan to Reinvest in 2025: Kraken Survey
A recent Kraken survey revealed 73% of American crypto holders plan to reinvest in 2025, showing confidence among existing investors.
The study polled responses from 2,537 Americans and found many crypto holders planning to reinvest in 2025.
US Citizens Finally Think Crypto Is Viable
This indicates a shift towards viewing digital currencies as a viable financial tool. Of those surveyed, 43% believe crypto offers greater economic security than traditional banking. Another 52% consider it a strong long-term investment.
The survey also shows that 55% of Americans, whether or not they own cryptocurrency, believe in the real-world utility of digital assets. However, 29% remain unsure about the sector’s future.
While the survey highlights optimism, it also reveals persistent myths about blockchain technology. According to the findings, 60% of respondents think cryptocurrencies are primarily used for illegal activities.
Gen X Is Crypto’s Main Audience
In addition, the study reveals that Gen X shows the most trust in crypto among all age groups.
This confidence might come from their experiences during two major economic crises:
- the 2008 Great Recession
- the COVID-19 pandemic in 2020
These events likely reduced their trust in traditional currencies, which struggled against high inflation. This aligns with the Financial Conduct Authority’s (FCA) survey showing over seven million UK adults own crypto assets.
In contrast, according to the survey, Gen Z seems to trust crypto the least. Only 32% of people aged 18 to 29 think crypto is useful in everyday life. This may be because they are still learning how crypto works and having doubts about its future.
Recent Challenges in Crypto Space
Meanwhile, recent developments, such as Kraken’s $5.1 million fine by the Australian Federal Court for margin trading violations, highlight ongoing challenges in the crypto space.
This case, involving loans to over 1,100 clients without proper suitability checks, has raised concerns about compliance but could ultimately lead to clearer global regulations, fostering more trust among investors.
KRAKEN'S AUSTRALIAN EXCHANGE OPERATOR FINED $5.1M FOR UNLAWFUL ISSUANCE OF CREDIT FACILITY TO CUSTOMERS
– The Federal Court of Australia has charged Bit Trade, the country's operating firm of Kraken Exchange, $5.1M for violating regulatory obligations.
– The fine comes after… https://t.co/ejbL1x6YJ8 pic.twitter.com/hDGhmzZxsh
— BSCN (@BSCNews) December 12, 2024
Projections from Bitwise Asset Management suggest Kraken could be among several major crypto firms considering public listings in 2025, potentially signaling increased transparency and mainstream adoption.
Source: cryptonews.com
