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Poll: 86% of American adults familiar with Bitcoin (BTC) and other cryptocurrencies

Sat 13 Nov 2021 ▪ 13h02 ▪ 4 min read — by Hugh Renolds

The number of US adults familiar with Bitcoin (BTC) has almost doubled, going from 48% to 86% since 2015. That is clear from the results of a survey conducted recently by the Pew Research Center.

Americans aware of cryptography

Pew Research Center researchers conducted a survey among 10,000 US citizens between 13th-19th September 2021. The analysts concluded that the older a person is, the less likely they are to use cryptocurrencies.

Every fourth (24%) respondent claimed to be familiar with cryptocurrencies. Only 16% of the surveyed talked about investing in digital assets, and 13% are not at all familiar with the crypto industry. Men, on average, showed a higher interest in cryptocurrencies than women – 22% versus 10%, respectively. Almost a third (31%) of Americans aged 18-29 have bought digital assets at least once.

The awareness of crypto assets among the polled Americans also seems to depend on their ethnicity and income. For example, 43% of Asian Americans have more knowledge about cryptocurrencies compared to US citizens in Latin America (29%). High-wage Americans (31%) are well-versed in crypto, while the percentage of middle- and low-income people informed about digital assets is 25% and 21%, respectively.

In 2015, the research centre also conducted a survey about Bitcoin among US citizens. At that time, 48% of those surveyed knew about it, but only 1% of them had ever bought Bitcoin.

Americans quit their jobs to invest full-time

The data from research firm Civic Science showed that roughly 4% of US residents quit their jobs over the past 12 months because they made enough profit from their cryptocurrency investments. Most of them were low-paid workers with average annual salaries of less than $50,000. Another 7% of the surveyed have acquaintances who quit their day jobs to pursue crypto investments.

The data shows that cryptocurrency investments can provide a level of income sufficient to dramatically improve one’s quality of life. According to analysts, richer cryptocurrency holders are more likely to use this type of asset to diversify their portfolio than as a source of income per se.

American billionaire entrepreneur Mark Cuban shared the results on his Twitter account. He said the percentage could rise in the future due to the recent rally among most cryptocurrencies.

Another recent survey by the UK Financial Conduct Authority showed that most young British investors enter the crypto market thanks to the hype in social networks and news. Whatever the reasons, it seems like digital coins are finally getting the kind of attention they deserve. 

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Hugh Renolds avatar
Hugh Renolds

I believe in the bright future of crypto. I have been investing since 2017 and look to share my experience in, and thoughts on, crypto and the blockchain.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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