Survey: The Majority of American Millennials Have Heard of Bitcoin

The majority of Americans are aware of Bitcoin

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A loan refinancing market student (LendEdu) organized a survey. He asked 1,000 Americans if they had heard of bitcoin. The vast majority of them,78.60 percent admitted that they had. Although, the 21.40 percent of the respondents replied that they have never listened about Bitcoin.

Younger Americans are more familiar with Bitcoin

Younger Americans found more likely to have heard of the digital currency compared to older Americans. More precisely, the 88.67 percent of respondents aged between 18 and 24 were aware of bitcoin. On the other hand, only 75.93 percent of those aged 55 and older had.

The survey highlights that some Americans feel confused about the cryptocurrency.

It is worth to mention that while the majority of Americans are aware of the cryptocurrency, 47.71 percent of them weren’t sure if it was illegal to own the currency in the United States. Of those asked, 10.69 percent believed it was illegal, while 41.6 percent stated that it was legal.

This probably is an outcome of the negative connotations the digital currency has with the dark web, making many Americans believe it’s an illegal form of currency in the United States.

This may reflect why only 13.99 percent of respondents indicated that they currently own or have owned bitcoin in the past. The 85 percent of consumers said that they never owned the currency. Surprisingly, the 45 percent said that they can see themselves investing in the currency in the future. On the other side, a significant number – 54.58 percent – still indicated that they wouldn’t.

So from the outcome of this survey, we can assume that the younger the American is, the more likely they are to have heard of Bitcoin and invest, own or use it.

Bitcoin’s value nonstop rises over the last few days, reaching over $7,300 today. Over time, more consumers will hear about it. It is safe to say that interest in the currency continues to grow.

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