In recently published research, aptly called “Do You Even Crypto, Bro? Cryptocurrencies in Household Finance” and based on repeated large-scale surveys of U.S. households, the Federal Reserve Bank of Cleveland found that bitcoin and other crypto assets are poorly understood compared with other financial assets and that the knowledge gap itself appears to be an adoption opportunity.

The Reasons for (Not) Owning $BTC

For example, insufficient information about the asset class is still cited by respondents as the main reason why people do not own crypto assets, while the second most popular reason is that they consider it a bad investment.

However, the reasons for owning “crypto” don’t demonstrate a great understanding of this…