A new report shows that cryptocurrency is becoming increasingly 'normal' from both the number of users and the demographics.
Although the recent focus of Bitcoin and the cryptocurrency market has been largely on political policies and institutional entry, such as the government's gradual acceptance of crypto assets and ETFs becoming the 'tail of crypto dogs', the (National Cryptocurrency Association) (NCA) report titled 'State of Cryptocurrency 2025' released in May 2025, shifts focus to another side of this digital coin.
This report illustrates that the profile of American cryptocurrency users is no longer limited to hoodie-wearing programmers or elite investment bankers from Wall Street, but includes construction workers from Oklahoma, artists from Chicago, grandmothers from Kansas—along with 55 million ordinary Americans using cryptocurrency for shopping, saving, and remittances.
The survey was conducted by Harris Poll, sampling 10,000 cryptocurrency asset holders from 54,000 American adults.
Cryptocurrency has become the 'new normal'
NCA Communications Vice President Ali Tager stated in an interview with Cointelegraph at the 'Bitcoin 2025' conference in Las Vegas: 'Cryptocurrency belongs to everyone.'
The report shows that currently, 21% of American adults (about one-fifth) hold some form of cryptocurrency. The prevalence of this proportion has profound implications for industry narratives and policymakers.
Tager points out that most cryptocurrency holders' stories do not involve quick riches or flaunting wealth, but rather focus on practical uses and transformations in their lives. For example, among respondents, 39% have used cryptocurrency to purchase goods or services, with 96% using it at least once a year and 22% using it weekly. Additionally, 31% of users reported sending remittances to family through cryptocurrency as an alternative to traditional remittance channels.
The primary motivation for entering the cryptocurrency market remains investment (chosen by 60% of respondents), but curiosity about blockchain technology (50%) and practical applications such as online shopping (27%) are also important reasons.
Tager summarizes: 'Cryptocurrency is no longer just a novelty. For many, it is simply a more efficient way to do things—whether it’s shopping, paying bills, or sending remittances.'
Consistent with trends from other industry reports, but with methodological differences
The findings of the NCA align closely with past analyses by Chainalysis, Messari, and a16zcrypto—namely, that the adoption rate of cryptocurrency is rising. However, the specific statistical composition remains contentious.
For example, the NCA report, based on a survey of 54,000 people by Harris, estimates that there are 55 million cryptocurrency holders in the U.S. This number, while representative, may overestimate the actual holding proportion due to the use of an online questionnaire. Another report released by Messari in 2025 estimates that the number of active cryptocurrency users globally is between 30 million and 60 million, thereby questioning the potential 'speculative inflation' of certain figures.
Additionally, the NCA report states that 31% of women own cryptocurrency assets, indicating that the crypto market is becoming more gender-diverse. However, considering that online surveys are more likely to attract 'tech-savvy' users, this result may contradict Chainalysis's assertion in its 2024 report that '70% of on-chain activity in the U.S. is dominated by crypto elites.'
This does not deny the trend of increasing crypto adoption among women or non-elite groups, nor does it negate the value of the NCA's large-scale research, but it emphasizes that— to build broad public and industry trust, more repeatable and standardized research is needed to verify the accuracy of the data.
The user base of cryptocurrency is undergoing structural changes
The NCA (National Cryptocurrency Association) report emphasizes that cryptocurrency holders are much more diverse than people generally imagine. While 67% of holders are male, 31% are female, equivalent to nearly 17 million American women using digital assets. In terms of age distribution, although 67% of cryptocurrency users are under 45, nearly 9 million are over 55, breaking the stereotype that 'cryptocurrency is just a young person's game.'
NCA Vice President Ali Tager gives examples: 'We hear about a cattle rancher from Kansas using blockchain to track beef sourcing; and a single mother from Texas learning crypto trading for financial independence. These are the stories worth paying attention to—they are not chasing Lamborghinis but are using cryptocurrency due to reality, often as a means of changing their fate.'
The report particularly emphasizes the potential of cryptocurrency to narrow financial gaps:
45% of users believe that cryptocurrency is a tool for promoting financial inclusion and poverty reduction;
38% believe that crypto technology drives technological innovation and sustainable economic practices.
Concerns and challenges of cryptocurrency
Despite the above data showcasing the popularity and democratization of the crypto space, the report simultaneously reveals a core contradiction: 75% of crypto users worry about scams and security issues, but only 3% report having personally experienced fraud.
According to a report by Chainalysis, global cryptocurrency crime is estimated to reach $51.3 billion in 2024. At first glance, there is a huge gap, but further analysis reveals that these crimes are mostly concentrated in a few incidents, such as a large ransomware attack or significant transactions on the dark web. According to NCA data, most ordinary users do not engage in these high-risk behaviors, and 70% of users hold less than $10,000 in cryptocurrency assets.
At the same time, the public's thirst for knowledge is increasingly strong. 81% of cryptocurrency holders express a desire to further understand digital assets, covering various aspects from investment strategies, blockchain fundamentals, to tax compliance.
Tager points out: 'What the public truly desires is credible information, not hype or empty recommendations from influencers. They want to know how to apply cryptocurrency in their daily lives.'
Public calls for clearer and more balanced regulation
Even as cryptocurrency becomes more popular, Americans are calling for smarter and clearer rules. The NCA report shows that 64% of cryptocurrency holders support government regulation, and 73% believe it is crucial for the U.S. to become a global leader in the cryptocurrency space. However, 67% worry that stringent regulation may stifle the innovative power of cryptocurrency.
Tager believes these seemingly contradictory demands are not in conflict: 'Proper regulation can confer legitimacy to cryptocurrency and protect consumers. The key is to find a balance—reaching consensus between building trust and maintaining open innovation.'
This balance is gradually being achieved in Washington, D.C. By 2025, President Trump's second term is referred to as the 'turning point' for U.S. cryptocurrency policy. The new Treasury Secretary Scott Bessent clearly supports crypto-friendly policies, and several favorable legislations are being promoted.
On the congressional side, proposals such as Senator Cynthia Lummis's (Bitcoin Strategic Reserve Act) also indicate that the U.S. government is adopting a proactive stance towards the industry. This policy support is expected to promote the development of the domestic cryptocurrency industry in the U.S. and thereby enhance the acceptance of cryptocurrency among ordinary consumers.
This confidence is also reflected in the data: 44% of cryptocurrency users believe it can enhance the transparency and security of traditional financial systems; another 44% emphasize its potential in improving transaction efficiency and speed.
Tager believes that all of this is prompting people to rethink the social mission of cryptocurrency. 'Even we are surprised,' she admits, 'but it makes sense—cryptocurrency's low barrier to entry opens new pathways where traditional finance has failed. In those neglected communities, the financial inclusion potential of crypto is gradually becoming tangible.'
