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Do 46 million Americans really own crypto?

May 12, 2021. Summarized by summa-bot.

Compression ratio: 34.3%. 1 min read.

According to a Newsweek article, 46 million Americans own Bitcoin. Do they really?

Crypto social media was abuzz after Newsweek published the article headlined “46 Million Americans Now Own Bitcoin, As Crypto Goes Mainstream” on May 11.

The impressive figure was re-posted by notable Bitcoiners including MicroStrategy CEO Michael Saylor who tweeted: “The finance industry is taking crypto mainstream by building Bitcoin into their insurance, banking, & investment products.

Newsweek says 46 million Americans now own Bitcoin. ”

@Newsweek says 46 million Americans now own Bitcoin. https://t. co/Wj6Ymk0hYU— Michael Saylor (@michael_saylor) May 12, 2021

The 46 million figure for crypto ownership in America actually comes from a survey conducted from Jan. 6 to Jan . 7 by New York Digital Investment Group or NYDIG.

The January survey was referenced in a more recent survey conducted on March 22 by NYDIG about Bitcoin and life insurance, which formed the basis of the Newsweek article.

Confusingly the first line of the Newsweek article suggests that 46 million Americans equates to “17% of the adult population” while the original NYDIG survey claims the figure equates to 22% of the adult population.

by summa-bot

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