#CryptoUsersHit18M As of 2023, the Federal Reserve estimated that approximately 18 million American adults owned or used cryptocurrency, representing about 7% of the adult population. This marks a decline from previous years, with a 3 percentage point drop from 2022 and a 5 percentage point drop from 2021. The survey, conducted in October 2023 with 11,488 participants, indicates a cooling of enthusiasm for digital currencies among U.S. adults.

In contrast, industry estimates suggest a higher number of crypto users in the U.S. For instance, Statista estimated that approximately 74.37 million Americans were crypto users. Similarly, figures like Michael Novogratz and Anthony Scaramucci have claimed that there are around 85 million crypto owners in the country, highlighting a significant discrepancy between industry estimates and the Federal Reserve's findings.

The Federal Reserve's report also provides insights into how cryptocurrency is utilized. Among those who own or use crypto, only 2% reported using it to make purchases, and 1% used it to send money to family or friends. Notably, one in four of those who sent crypto indicated that at least one transfer was international. These figures suggest that while ownership is relatively widespread, the actual use of cryptocurrency for transactions remains limited.