Tulips might have been a better investment in their heyday:
“Many Americans are coming to realize that cryptocurrency is just a speculative mania and the industry is rife with crooks,” James Royal, principal reporter at Bankrate, tells CNBC Make It.
To that point, about 60% of Americans now believe investing in digital currency is highly risky — up from 45% in 2021, according to the recent CNBC Make It: Your Money survey, conducted in partnership with Momentive. Another 26% believe it is moderately risky.
Just 8% of Americans have a positive view of cryptocurrency as of Nov. 2022, according to the CNBC All-America Economic Survey.
Overall, the crypto market has lost a little over $2 trillion in 2022 and popular digital coins such as bitcoin have fallen far below their 2021 highs.
Source: Bitcoin lost over 60% of its value in 2022
