A New Survey by Blockchain Capital has revealed an increase in the popularity of Bitcoin. Demographics like Young Professionals (young people aged 18-34) are now putting more of their money into crypto assets like Bitcoin.
If you asked us, we would say it’s a no brainer. Of course, young people are into bitcoin more than older demographics.
But it’s still interesting to see the data.
“Changes in the popularity of Bitcoin from October 2017 to April 2019 covered include:
- The percentage of people who are unaware of Bitcoin dropped from 23% to 11%
- The percentage of those aged 18-34 who describe themselves as at least “somewhat familiar” with Bitcoin rose from 42% to 60%.
- The percentage of respondents who have a positive view on Bitcoin as a new innovation in financial technology rose from 34% to 43%.
- The percentage of respondents who strongly or somewhat agree that most people will be using Bitcoin in the next 10 years rose from 28% to 33%.
- Despite the bear market, the percentage of people who indicated they are likely to buy bitcoin in the next 5 years rose from 19% to 27%.
Examples of this greater openness to bitcoin from the younger generations include:
- Three times as many people in the 18-34 age group are at least “somewhat familiar” with bitcoin as those 65 and older.
- 59% of the 18-34 age group have a positive view on Bitcoin as a financial innovation, but only 24% of those 65 and older feel that way.
- In terms of future adoption, 48% of the 18-34 age group think most people will be using bitcoin in 10 years, while only 16% of those 65 and older believe that will be the case.
- 42% of those in the 18-34 age group say they are likely to buy bitcoin within the next 5 years, while only 8% of those 65 and older claim they will make such an investment.
- 20% of millennials claim they own some bitcoin. Only 2% of those 65 and older claim to have any bitcoin.”