Among users who made payments with crypto, more than 25% said the businesses involved preferred digital assets, pointing to advantages such as faster transactions, greater privacy, and lower costs.
Roughly one in 10 US adults said they used or invested in crypto in 2025, marking the highest level recorded in three years, according to a Federal Reserve report on household economic well-being.
Around 10% of respondents said they used crypto for some purpose, an increase from both 2023 and 2024, according to the Federal Reserve report published on Wednesday.
Despite the increase, crypto adoption in 2025 still remained below the levels seen in 2021, when 12% of Americans reported using crypto for some purpose.
Expanding Bitcoin and broader crypto use into everyday payments has been made a key focus area by several US payment companies, including Block Inc., which has enabled Bitcoin and stablecoin payment acceptance for more than 800,000 US-based merchants.
Lightspark, a Bitcoin Lightning Network startup founded by former PayPal president David Marcus, is also working to bring Bitcoin payments further into mainstream use.
Around 9% of respondents reported using crypto as an investment vehicle, while payments were cited by only 2%, and money transfers to family or friends were reported by just 1%.
Crypto usage was reported as notably higher among unbanked individuals, with 6% using crypto for transactions compared to 2% of banked adults, while around 6% of Americans were recorded as unbanked in 2025.
More than 25% of respondents who used crypto for payments reported that the businesses involved preferred receiving payments in crypto, with advantages such as faster transactions, greater privacy, and lower costs being cited.
Fewer than 10% of businesses reported a preference for crypto payments, with reasons such as perceived safety compared to banks or reduced trust in the traditional banking system being cited.
New Federal Reserve Chair Signals Positive View on Bitcoin
A relatively cautious stance on crypto has been maintained by the Federal Reserve over the years, particularly during the leadership of Jerome Powell, whose term ended on Friday.
Jerome Powell is set to be succeeded by Kevin Warsh, who was confirmed by the Senate on Wednesday.
Kevin Warsh, who served as a Federal Reserve governor from 2006 to 2011, has expressed a favorable view of Bitcoin, previously stating that it could “provide market discipline” and comparing it to gold as an investment asset favored by those under 40.
Kevin Warsh is widely viewed as holding hawkish positions on monetary policy, with emphasis placed on fiscal restraint, lower inflation, and reduced reliance on quantitative easing.
