Fed Report Says 10% of Americans Used Crypto in 2025, Highest Since 2022

TLDR

• About 10% of U.S. adults used or invested in crypto in 2025, the Fed said.
• Crypto use in 2025 reached its highest level since 2022.
• Around 9% of Americans used crypto as an investment in 2025.
• Only 2% of U.S. adults used crypto for payments, according to Fed data.
• A POLITICO poll found only 4% of voters weigh crypto policy in elections.

About 10% of U.S. adults used or invested in cryptocurrency in 2025, the highest share recorded since 2022, according to a Federal Reserve report on household economic well-being.

The figure was higher than the levels reported in 2023 and 2024, but remained below the 12% share recorded in 2021. The data shows that crypto use recovered modestly after two weaker years, while still remaining a minority activity among American adults.

The report found that most crypto activity was tied to investment rather than payments. Around 9% of respondents said they used crypto as an investment, while 2% used it for payments and 1% used it to send money to family or friends.

Fed Data Shows Crypto Use Rose in 2025

The Federal Reserve report provides a fresh view of U.S. crypto adoption after a period marked by market volatility, regulatory debate, and increased interest from payment firms.

Bitcoin and stablecoin payment adoption remains a focus for several companies. Block, the payments firm led by Jack Dorsey, has enabled Bitcoin and stablecoin payments for more than 800,000 U.S.-based merchants. Lightspark, founded by former PayPal President David Marcus, has also worked to expand Bitcoin Lightning Network payments.

Despite those efforts, the Fed data shows that day-to-day crypto payments remain limited compared with investment use. The difference suggests that many users still view cryptocurrency mainly as a financial asset rather than a replacement for traditional payment methods.

Payments Remain Smaller Than Investment Use

Crypto transaction use was higher among unbanked adults than among banked adults. About 6% of unbanked respondents said they used crypto for transactions, compared with 2% of banked adults. The report said around 6% of Americans were unbanked in 2025.

Among those who used crypto for payments, more than one-quarter said the business receiving the payment preferred crypto. Respondents cited speed, privacy, and lower costs as reasons for using digital assets in those transactions.

Less than 10% said businesses preferred crypto because it was viewed as safer than banks or because of distrust in the traditional banking system. The data points to practical payment features as a more common reason than anti-bank sentiment.

The Federal Reserve has maintained a cautious stance toward digital assets over recent years. The report also comes as Kevin Warsh is set to replace Jerome Powell as Fed chair, according to the provided information. Warsh, who served as a Fed governor from 2006 to 2011, has previously compared Bitcoin to gold for younger investors and said it could provide market discipline.

Polling Shows Limited Voter Interest in Crypto Policy

Separate polling from POLITICO and Public First found that crypto remains a low-priority political issue for most voters, even as Congress and the Trump administration focus on digital asset legislation.

Only 4% of Americans said a candidate’s crypto policy position would influence their vote in an upcoming election. The issue ranked near the bottom among voter priorities in the survey.

The poll found that 27% of Americans supported or strongly supported government action to legitimize crypto as a mainstream financial asset. By comparison, 31% opposed or strongly opposed such action, while 42% were neutral or unsure.

Only 18% said lawmakers should prioritize rules for the cryptocurrency market. That was below issues such as affordable housing and consumer protection from financial fraud.

Even among respondents who had bought or sold crypto, only 7% said a candidate’s stance on crypto policy would affect their vote. The survey also found that 45% of Americans did not believe crypto was worth the risk, while 25% said it was.

The polling showed stronger public trust in traditional banks than in crypto platforms. About 47% of respondents said they would trust a bank over a crypto platform with their money, while 9% said they would trust a crypto platform over a bank.

The results show a divide between rising crypto use and limited political urgency among voters. While crypto adoption rose in 2025, most Americans still do not treat digital asset policy as a leading election issue.