Aliens TLDR

The Federal Reserve has issued its annual report examining the financial lives of US residents, and it indicates Americans are more likely to use cryptocurrency as an investment tool than a purchasing mechanism.

It also concluded that lower-income adults were more likely to use crypto for transactional purposes.

Nearly 6 in 10 adults who use crypto transactionally had an income under $50,000 and only 24% had an income of more than $100,000.

In contrast, those who held crypto for investment purposes were "disproportionately high-income, almost always had a traditional banking relationship, and typically had other retirement savings," according to the report.