Survey: ‘Strong Growth’ in Americans Believing Most People Will Use BTC in the Next Decade
More than 1 in 3 Americans are likely to buy Bitcoin in the next five years, reveals the latest survey commissioned by Blockchain Capital.
The online survey of over 2,000 US adults during October 7–9, 2020, states that awareness is relatively saturated at this point as most people (90%) have heard of Bitcoin.
The most substantial growth, which “drastically exceeded” even the company's expectation, has been in the conviction phase.
The percentage that ‘strongly’ or ‘somewhat’ believe that most people will be using BTC in the next decade rose 8% from 33% in Spring 2019. Interestingly, 38% of people expect Bitcoin to exist longer than the euro — including 58% of those aged 18–34.
As for the respondents' investment choice, 26% prefer $1,000 of Bitcoin to $1,000 of government bonds, up from 21% in Spring 2019. 20% prefer the digital asset to real estate, and 18% to gold, both saw an increase of 6%.
While those aged 18–34 saw the percentage jump between 8-9%, 35 to 44 saw a more significant jump between 10 to 12%.
Crypto ownership also increased across the board — 24% in Fall 2020 vs. 16% in Spring 2019. While 14% claimed to own BTC, 8% owned BCH, 6% BNB, and 5% ETH.
As for propensity to purchase, a 7% increase to 34% was seen despite the price of Bitcoin being down about 50% from its ATH at the time.
Younger demographics are most inclined to purchase Bitcoin at 55%, up 13%, compared to 26% of those aged 35+.
The company concluded the survey with two “very significant tailwinds,” including Bitcoin proving itself year-over-year and younger demographics being drastically more inclined to buy and use bitcoin than older demographics.