Block Inc. report suggests Bitcoin is the people’s currency, but with a twist
A report Block Inc. worked with Wakefield Research to elaborate on some interesting findings on Bitcoin.
The report explored the Bitcoin story to better understand people’s knowledge and perceptions of Bitcoin across geographic regions, gender, income, and age.
Main findings of the survey
Researcher surveyed 9,500 respondents In 14 countries in three regions of the Americas. Europe, Middle East, and Africa. (3) Asia Pacific. The survey was conducted over 18 days in January through an online survey.
Many respondents view Bitcoin as a payment mechanism that helps them send money and purchase goods and services.
Cryptocurrencies are usually considered a male-dominated sector, but research has shown that outside of the Americas, this story is less noticeable in terms of ownership and knowledge of “self-description.”
People cite security, price volatility, and uncertain regulatory conditions as the main reasons for being pessimistic about Bitcoin.
Not surprisingly, people around the world are more aware of Bitcoin than any other cryptocurrency.
Bitcoin is the currency of people
Earlier this year Elon Musk People’s currencies, called Dogecoins, further emphasize that point and “do not have to be gigachad to own. [it].. “
You don’t have to be gigachad to own
— Elon Musk (@elonmusk) February 4, 2021
However, Block Inc.’s findings suggest that Bitcoin, not Dogecoin, is the currency of the people.
The section on “Bitcoin for a Fairer Economy” investigated why people buy Bitcoin on different income scales, from low to high.
The results show that below average respondents (people) prefer to buy Bitcoin for practical reasons such as sending money to others or buying goods or services.
In contrast, those who earn above average tend to buy Bitcoin for investment reasons such as speculation and diversification of investments.
“People below average Income pays more attention Use Bitcoin as a way to send With the purchase of money and goods Service than people with Above average income. “
In the graph below, this trend is consistent across countries, with developed countries declining and clustering to use BTC as a payment system rather than an investment vehicle.
Based on this data, it is fair to conclude that everyday people understand that Bitcoin is the currency used in everyday life. This was intended by Satoshi Nakamoto. Bitcoin white paperRead as “peer-to-peer electronic cache system”.
