Greater knowledge increases optimism and participation in Bitcoin (BTC)

According to Block, Inc. Report 2022: Bitcoin: Knowledge and Perception, where a survey of 9,500 participants was conducted to address common misconceptions about bitcoin, 51% of the people are not buying Bitcoin because they do not know enough about it.

Quick take

₿ – Accordingly, the higher people rate their level of knowledge, the more optimistic they are about Bitcoin’s future. People in Nigeria, India, Vietnam, and Argentina have the highest rates of optimism globally about Bitcoin’s future.

₿ – Additionally, higher-income people are more optimistic than lower-income people (46% vs. 37%).

₿ – 41% of those who say they have fair to expert levels of cryptocurrency knowledge say they are very likely to purchase Bitcoin in the next 12 months, compared with just 7.9% of those with limited to no knowledge of the topic.

₿ – Lack of Bitcoin knowledge (51%) is the top reason people don’t buy, followed by concerns related to security (32%), price volatility (30%), and finally an uncertain regulatory landscape globally (29%).

₿ – The network effect is real. 73% of no-coiners who know a Bitcoiner, are likely to buy Bitcoin.

₿ – Asia has the highest optimism in Bitcoin’s future.

Full report here.

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