New Survey: New Millenials Prefer Bitcoin to Stocks

New Survey: Millenials Prefer Bitcoin to Stocks

 
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New survey, conducted online by The Harris Poll, on behalf of Blockchain Capital, shows that general awareness about bitcoin has increased from 77% in October 2017 to 89% in April 2019. The survey was conducted among 2029 adults in the United States.

General awareness about bitcoin is strong and present in all age groups. The difference between the most aware group (age 18-24) and the least aware (45 – 54 and 65+) is only 2 percent i.e. 90% to 88%.

When the survey starts moving from “awareness” to “familiarity” results change dramatically. In this category, 60% of respondents in the 18-34 age group say they are “somewhat” familiar with bitcoin, compared to only 20% in the oldest group (65+). In general, familiarity with bitcoin in all age groups has increased from 30% to 43%, between 2017 and 2019.

The “perception” category brings similar results. The difference between age groups is striking – 59% in the youngest category “strongly” or “somewhat” agree that “bitcoin is a positive innovation in financial technology”, compared to 24% in the oldest age group. Here as well we see a general improvement, from 34% in October 2017 to 43% in April 2019.

The percentage of respondents who ‘strongly’ or ‘somewhat’ agree that ‘most people will be using Bitcoin in the next 10 years has increased “only” 5%, as the survey moves more towards actual applicability and usage of bitcoin. The improvement rate has doubled from 5% to 10% in the youngest age group when asked if they are “very” or “somewhat” likely to purchase bitcoin in the next 5 years  – from 32% to 42%. In total, 9% own bitcoin, a percentage that is doubled in the youngest age group.

In the end, all generations claimed that they prefer to own $1,000 worth of bitcoins, compared to government bonds, stocks, real estate or gold. As many as 21% of respondents say they prefer bitcoin over bonds, while the rate is the lowest when bitcoin is compared to gold – 12%. Again, the youngest age group is more attracted to owning digital assets compared to older generations. In particular, 27% said they prefer bitcoin over stocks.

“Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly — dramatically in many cases,” it is concluded in the findings of the survey.