Harris Poll conducted a demographic survey for Blockchain Capital regarding the knowledge and general sentiment around Bitcoin. The survey revealed an increasing positive outlook of the American citizens towards Bitcoin [BTC]. Most interestingly, according to the survey, 30% of the young adult (18-25) population in America prefer Bitcoin [BTC] over Government bonds, and 24% prefer it over gold.
Nevertheless, the survey was conducted on a small sample of the population of 2029 individuals, and the results were projected on the entire population in the US. Moreover, the statistical technique revealed that the general awareness of Bitcoin is highest among individuals aged from 18-25.
The survey also revealed that about 11% of all the Americans own Bitcoin. The maximum ownership was again concentrated amongst individuals aged between 18-35.
Furthermore, the ‘propensity to purchase‘ Bitcoin in the next five years also increased from 19% to 27%, indicating increasing average confidence towards Bitcoin.
General Awareness and Belief in the Asset
The survey also reported a positive growth of not only in the awareness about Bitcoin but also in the conviction for it. While the general information about Bitcoin was evidently on the rise, the number of people estimated to be familiar with the payment system is 43%. It rose from 30%, which was reported in the previous survey.
It is no doubt Bitcoin is more famous amongst millennials than the generation before that. The survey also concluded similar statistics, moreover, the percentage of individuals between 18-25 who ‘strongly or somewhat agree’ that Bitcoin will be used in the next ten years is at 48%.
Similarly, in preference over traditional assets for investments in individuals aged 18-25, the inclination towards Bitcoin was considerable given it is an isolated asset like Gold. While more than 22% of the people prefer Bitcoin over Gold and 27% preferred it over equity investments.
Moreover, according to the survey, only 37% of the individuals aged between 18-25 own stocks or securities of other kinds, while 20% of then reported to owning Bitcoin. Hence, the survey noted that Bitcoin is a demographic mega-trend led the younger generation.
Do you think that the survey agrees with other developed countries as well? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com