More than 100 Million Americans Will Use Cryptocurrencies by 2028
May 19, 2:11 pm
The number of Americans embracing cryptocurrencies continues rising, fuelled by crypto's fantastic performance this year. By the end of 2024, almost 88 million people in the United States will use crypto as a payment method or an investment, 15 million more than last year, and this figure is projected to continue growing in the future.
According to data presented by AltIndex.com, more than 100 million Americans, nearly one-third of the current US population, will use cryptocurrencies by 2028.
Over 20 Million Americans to Flock to Crypto in the Next Four Years
The United States has dominated the global crypto landscape for years, generating more revenue than any other country. In 2024, the global crypto market is expected to gross more than $51 billion; nearly half of that value will come from the United States. Today, the United States generates three times more crypto revenue than the UK, German, Japanese, and Russian markets combined, and the main reason for that is its impressive crypto user base.
The number of Americans using cryptocurrencies has snowballed over the years, and the Statista data show just how significant that growth was. Back in 2017, the US crypto market counted less than five million users. Over the next four years, this number increased sevenfold. In 2021, 37 million Americans were using cryptos as an investment or a payment method, with Bitcoin, Ethereum, Dogecoin, and Litecoin as the most popular picks. However, the last three years have also seen impressive growth rates, with cryptos drawing over 50 million people and pushing the total user count in the US market to 87.7 million in 2024.
Although the annual growth rate will slow down in the following years, Statista still expects more than 20 million Americans to flock to crypto by 2028, pushing the total user count to 100.7 million. This figure is even more impressive when compared to other top crypto markets. Statistics show that in 2028, the United States will have the same number of crypto users as the United Kingdom, Germany, Japan, and Russia combined, the next four largest crypto markets.
Only Two Countries Will Count More than 100 Million Crypto Users by 2028
The Statista survey also showed that only one more country besides the United States will have more than 100 million crypto users by 2028, India. India has topped the global chart of countries with the most crypto holders for years. Statistics show almost 270 million Indians use crypto as of this year, or nearly 20% of its population. By 2028, this figure will rise to 328 million, three times the US crypto user count.
But despite having the highest total number of crypto holders, India still needs to catch up to the Western markets in terms of revenue. Although Indian crypto revenues are expected to grow by 36% and hit almost half a billion dollars by 2028, that is still 66 times less than the projected revenue in the US market for the same year, and seven times less than the expected revenue in the UK crypto market.
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