Russia’s VTsIOM Research Center Shows Only 2% Of Russians Have Invested In Bitcoin

Only 2 Percent Of Russians Have Invested In Bitcoin

Crypto has made great strides in embedding itself into the public consciousness as well as attracting investments from large companies. At the same time, there is a need to know just how much of the public is aware of and is invested in the crypto industry rather than go on mere speculation.

This gives a clear idea of how much progress has been made so far and how much work is left to be done before the end goal of mass adoption can be achieved. As such, periodic polls are carried out that gauge public response to crypto.

One of the latest of these is a survey conducted by the Russian Public Opinion Research Center (VTsIOM) and published on April 9.

New Findings

According to the recent survey, only about 2 percent of Russians have invested in Bitcoin. The survey claims that bitcoin has not gained a great deal of popularity in the county and that two-thirds of the population considers investment in crypto as a bad idea.

Other results show that 56 percent of Russians are aware of Bitcoin while 18 Percent have heard only of Bitcoin. Weirdly enough, only 12 percent of respondents are aware that bitcoin is banned in Russia. While these might seem like disappointing figures, it should be noted that the time frame of the survey and the number of respondents was not disclosed and so there could be some bias.

There are some interesting observations about the expose of citizens to Bitcoin, especially when sub-demographics are looked at. Only about 9 percent of respondents have in-depth knowledge of Bitcoin, which is hardly a small number. At the same time, certain sub-demographics report a higher percentage of respondents who have this knowledge.

Males seem to know more about Bitcoin than females which is not surprising considering the industry is largely male-dominated. There is also more awareness among people under the age of 25 and those with higher education. One can only imagine that this number will go up as more blockchain and crypto-focused courses are being introduced to universities.

Residents of Moscow and St. Petersburg, Russia’s two largest cities, also have more exposure to Bitcoin than those who are residents of small towns.

Hopefully, these numbers will continue to rise over time and as more awareness is being increased and more investments are being pushed into the industry, it will be more peculiar that a segment of the population doesn’t invest in Bitcoin.