TL;DR Breakdown
• Bitcoin represents the most-used crypto by Americans.
• Cryptocurrency interest could be due to state of the global economy, according to experts
The first quarter of 2022 has proven to be a golden one for the cryptocurrency market as at least 2 out of 10 people are said to use cryptocurrencies at the end of the quarter. The United States has been making strides in crypto adoption by increased usage of Bitcoin among crypto fans and tech companies.
According to reports, cryptos have gained increased relevance since 2021, when Bitcoin and other tokens reached their all-time high price. The number one token in the decentralized market traded at almost $70,000 but eventually lost 50 percent of its price.
The US increases its crypto adoption, survey finds
The United States has increased its cryptocurrency adoption in the last year, granting the nation a significant advantage of the decentralized market in the first three months of 2022. Using cryptos is so massive in the country that the president, Joe Biden, ordered creating a system that regulates the market to guarantee security to fans.
The largest investment bank globally, Goldman Sachs, announced last month it would launch a program for crypto trading. This news could increase the flow of people using Bitcoin, Ether, and Dogecoin in the country.
According to the head of the investment company Nickel Digital, Americans see cryptocurrencies as a source of payment rather than an alternative digital currency. This shows that crypto followers recognize that trading will normalize with the traditional financial market.
Crypto research continues to improve
Several American investigative media have indicated a real figure on using cryptocurrencies in the country. The agencies concluded that 2 out of 10 people know, use and exchange their fiat currencies in cryptos. The flow of technology companies that favor the market is also growing, achieving dominance in almost the country’s entire territory.
An agent from the financial advisory company Bloomberg indicates that he has little knowledge about Bitcoin or other cryptocurrencies but acknowledges that cryptocurrency adoptions have increased. The firm’s representative is surprised by how much Bitcoin has achieved in the last decade and would not be surprised if the token becomes a virtual clause for the global financial market.
While Bitcoin and the rest of the decentralized tokens receive praise, their market shows a bullish streak in which BTC is trading at more than $46,000. With the increase in US crypto adoptions, the tokens may reach their ATHs before the end of the year.
