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Newsweek’s article claims that 46 million Americans own Bitcoin

Newsweek's article claims that 46 million Americans own Bitcoin

Newsweek published a report which claims that 46 million Americans own Bitcoin. But no one knows from where did the figures come. So, it is a big question if 46 million Americans own Crypto.

Crypto Social Media

Crypto social media was abuzz after this news got published. Moreover, the headline says that “46 Million Americans Now Own Bitcoin, As Crypto Goes Mainstream” got posted on May 11th.

Michael Saylor

Notable Bitcoiners, including Michael Saylor of MicroStrategy, reposted this impressive figure. He also Tweeted, saying that the finance industry is taking Crypto mainstream by building Bitcoin into their insurance, banking, and investment products.

Nick Carter

Nick Carter, the co-founder of Coin metrics, said that the sheer number of Bitcoiners represents a powerful constituency that cannot be ignored. In addition, the political dividends for embracing Bitcoin are enormous.

NYDIG survey

New York Digital Investment Group (NYDIG) researched January 6th to January 7th. Moreover, the survey report shows 46 million figures for Crypto ownership in America. NYDIG referenced this January survey in a more recent survey conducted on March 22nd. Newsweek’s article is based on this survey.

Confusing Headline

Newsweek’s article’s first line confusingly suggests that 46 million Americans equals 17% of their adult population. However, the original NYDIG survey claims a figure that equals 22% of the adult population.

Moreover, NYDIG surveyed only those whose income is over $50k, and this may also account for the difference in percentages. According to Newsweek’s finding majority of respondents said that they did not own any digital assets. However, 55% of those said that they would consider adding cryptos to their portfolio.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.