About 10% of Americans used cryptocurrency in 2025, the highest adoption rate since 2022, according to new data from the Federal Reserve. The central bank’s latest figures also show that more than a quarter of crypto payment users turned to digital assets because businesses prefer them — pointing to a growing merchant acceptance as a key driver.
The numbers
The Fed’s report marks a notable rebound after years of stagnant or declining adoption. The 10% figure edges past the post-2022 lows and suggests that crypto is regaining ground with U.S. consumers. The data comes from the central bank’s regular surveys on consumer financial behavior, a widely watched benchmark for mainstream crypto usage.
Why business preference matters
Over 25% of people who used crypto for payments said they did so because businesses favored the method over traditional options. Speed, privacy, and lower transaction costs were the main reasons cited. That’s a shift from earlier years when speculation or investment drove most usage. It signals that merchants — from online retailers to service providers — are increasingly comfortable accepting crypto, and that consumers are responding.
A long road back
Adoption peaked in 2021 and early 2022, then dropped sharply as prices fell and several high-profile exchanges collapsed. The new Fed numbers suggest the worst of that downturn is behind the market. But 10% is still well below the peak. The fact that business acceptance is now a top reason for using crypto could give the trend more staying power this time — if merchants keep offering the option.
The Fed’s report didn’t break down which cryptocurrencies users favored or which business categories saw the most adoption. Those details may come in follow-up surveys. For now, the headline is clear: after a long slump, more Americans are using crypto again — and they’re doing it to pay for things.
