After a pronounced downturn over the past six months, cryptocurrency adoption in the U.S. has begun to recover, according to German lender Deutsche Bank (DB).
In a new survey covering 3,400 consumers, Deutsche Bank said U.S. crypto participation rose to 12% in March from 7% in February.
Adoption and use of cryptocurrencies such as Bitcoin (BTC) is now near its all-time high of 14% seen in 2023 during the peak of the bull market in stocks and digital assets.
Bitcoin exchange-traded funds (ETFs) saw a resurgence in March, attracting $1.3 billion U.S. in inflows and signaling renewed institutional demand, added Deutsche Bank.
Crypto prices have shown signs of resilience, with Bitcoin’s price gaining 9% in March. More recently, BTC’s price briefly topped $77,000 U.S. amid investors’ improving risk sentiment.
BTC remains the centre of the crypto universe. Roughly 70% of cryptocurrency investors worldwide hold Bitcoin.
That far exceeds ownership of stablecoins. Bitcoin also remains the top choice for future crypto investments, cited by 69% of U.S. respondents as their preferred digital asset.
Demographically, cryptocurrency adoption remains skewed toward men and higher-income households, though the report noted small gains among women and lower-income investors.
Bitcoin is currently trading at $76,500 U.S.
