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In 2021, cryptocurrency accounted for $6.10 billion worth of transactions worldwide, up 177.3% from $2.20 billion the year before. Come 2023, crypto transaction value will hit $16.16 billion as more businesses accept these digital currencies as payment.

Beyond the chart: Crypto adoption has exploded since the onset of the pandemic, when the digital assets captured the imaginations of people stuck at home and online. Nearly 13% of US adults will own crypto this year, per our estimates. Most are in it for long-term investment, with only about 10% of US owners using their crypto for transactions. That said, the base of crypto payment users will expand at high double-digit rates through 2023, even as growth in owners decelerates.

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