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The crypto market is being led by young Black Americans.

Aug 16 2022

The crypto market is being led by young Black Americans. According to Terri Bradford, a researcher for the Federal Reserve Bank of Kansas City, “surveys show that Black consumers are more likely than white consumers to own cryptocurrencies.” Bradford explains that for Black consumers, about 50% of crypto owners are Gen Z and Millennials. Meanwhile, Black consumers are far less likely to own traditional assets, with consumer finance report data showing 61% of White households owned equity investments compared with 34% of Black households. YPulse’s Buying Into Crypto and NFTs trend report data shows BIPOC young consumers are more interested in purchasing cryptocurrencies and NFTs than their White peers. (The Seattle Medium)