Crypto Is 2nd Most Popular Savings Tool In US
Cryptocurrencies have become the second most preferred savings method in the United States, accounting for 17% of consumer savings in 2023, according to an analysis by Stocklytics.com.
This trend indicates widespread adoption and utilization of digital assets, with uncertainty over crypto’s future fading.
Despite lagging behind savings accounts by over 30%, cryptocurrencies have a significant lead over other saved assets, such as gold and real estate, with an impressive 8% lead over gold and a marginal 2% lead over real estate.
Financial analyst Edith Reads believes the rise of cryptocurrencies may challenge traditional cash assets in the future. The crypto space is experiencing unprecedented growth, with experts predicting further growth in the coming years.
It is projected to generate revenue of up to $23.2 billion in 2024 and $32.9 billion by 2028, with a CAGR of nearly 10%.
(With inputs from Shikha Singh)
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