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

of people said they would — up from 18% in October 2017 17% of people said they would prefer Bitcoin to stocks — up from 14% in October 2017

of people said they would — up from 14% in October 2017 14% of people said they would prefer Bitcoin to real estate — up from 12% in October 2017

of people said they would — 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.

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Get the latest news on Blockchain only on Blockmanity.com. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better