According to a recent report from research firm Morning Consult, it’s safe to say that when it comes to consumer confidence, crypto owners are on a different level than your average American adult. The report reveals that crypto aficionados sit 16.4 points higher on the consumer sentiment index compared to their non-crypto counterparts.

The Resilience of Crypto Enthusiasts

While the consumer sentiment of the average U.S. adult has dropped 13.5% since mid-January, crypto owners haven’t fared as poorly, with a decline of just 8.1% in the same timeframe. It seems that having a crypto portfolio acts as a shield against the pervasive pessimism that’s sweeping the nation.

Who are These Cheery Crypto Owners?

So, who exactly are these optimistic crypto holders? Morning Consult notes that the average crypto owner tends to be wealthier, younger, and predominantly male. In fact, the report highlights that Millennial men earning over $100,000 a year are the most likely candidates to own crypto. Meanwhile, older generations and women appear to be trailing behind in this digital gold rush.

Price Expectations: High Hopes or Delusional Dreams?

The report reveals that the driving force behind the optimism of crypto owners is their lofty price expectations for Bitcoin (BTC). On average, these hopeful traders anticipate a bounce back to a tantalizing price of $38,000 within the next six months. However, experts are cautioning that Bitcoin might remain stagnant for a while and could even dip down to $16,000.

What’s the Crypto Agenda?

Interestingly, the vast majority of crypto owners — around 66% — primarily see these digital currencies as a way to make money, rather than for transactions or payments. With such a transactional perspective, the urgency for price recovery becomes clearer and highlights the speculative nature of the crypto market.

Bitcoin: The Reigning Champion

When it comes to popularity contests in the crypto world, Bitcoin takes the crown. The report found that a staggering 75% of American crypto owners have Bitcoin in their wallets. Furthermore, there has been a small uptick in ownership of stablecoins like USD Coin (USDC) and Solana (SOL), each seeing a 4% increase since January.

More Regulations on the Horizon?

The report also indicates a growing inclination among Americans for stricter regulations on cryptocurrencies, with those favoring heavier regulation increasing from 17% in January to 21% in June. This call for regulatory action seems to stem from the turbulent environment following the collapse of the Terra ecosystem and the apprehensions voiced by authorities like Janet Yellen.

In summary, it’s clear that while the general sentiment might be grim among the average American, those who hold a piece of the crypto pie are holding their heads high, even if it comes with a side of naïve optimism. Now, if only their investments would cash in on that positivity!