The Virus is Spreading!
A recent survey conducted by Harris poll (on behalf of Blockchain Capital) shows that Bitcoin awareness is higher than ever despite the bear market. The figure increased from 77% in October 2017 to 89% in April 2019 among American adults.
Spencer Bogart, partner at Blockchain capital writes:
“Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly — dramatically in many cases.”
Bitcoin awareness has increased across all age groups and is highest among millennials (age 18-35). Among the 2052 respondents who took the survey, most of them said that they were atleast somewhat familiar with Bitcoin. The perception of Bitcoin as a positive financial innovation has increased from 34% in October 2017 to 43% in 2019.
According to the survey, almost half the millennials believe that most people would be using Bitcoin in the next ten years. Across the board adults from the age, 18-35 are most aware and have a better grasp of the technology which tends to decrease with age.
Bitcoin as an investment
The percentage of people that are interested to buy Bitcoin rose from 19% in October 2017 to 27% in April 2019. Millennials are most likely to purchase Bitcoin with 42% saying that they are ‘very’ or ‘somewhat’ likely to purchase Bitcoin in the next 5 years. The survey also asked the respondents on their preference of Bitcoin over other asset classes like Gold, Real Estate, Stocks and Bonds.
The survey shows:
- 21% of people said they would prefer Bitcoin to government bonds — up from 18% in October 2017
- 17% of people said they would prefer Bitcoin to stocks — up from 14% in October 2017
- 14% of people said they would prefer Bitcoin to real estate — up from 12% in October 2017
- 12% of people said they would prefer Bitcoin to gold — up from 8% in October 2017
Most importantly the survey touched upon Bitcoin ownership in which the millennials came ahead with 1 in 5 owning atleast some BTC. 20% is not that low when compared to the ownership of stocks among people under the age of 35 which is only 37%. Even though Bitcoin is a new asset class that is only 10 years old there is a tremendous amount of interest among young people.
Bitcoin is currently valued at $5261 per coin still down 74% from its all-time high in December 2017.
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