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Saturday, November 10, 2018

Latest polling data shows virtually everyone now knows about Bitcoin! So, on to the next phase - adoption.

Generally, before something becomes commonplace it goes through the phases of development, awareness, and then adoption.

When it comes it Bitcoin, it looks like we can officially say we've entered the 3rd and final stage - at least here in the UK. According to the latest polling conducted by YouGov, an astounding 93% of people had at least heard of the cryptocurrency.

While the question wasn't asked in previous years, I can tell you from experience - i'd be shocked if that number was above 10% in 2016, over the last 2 years we've truly seen the public awaken, at least to it's existence.

Adoption unfortunately is another story, as 6% of men say they own Bitcoin, and just 1% of women.

Some other interesting data from the poll:

- Only 4% feel they understand Bitcoin 'very well'.
- Most who owned Bitcoin fell within the ages of 12-24
- Only 1% of those over 55 years of age own Bitcoin.

So while we can proudly say "mission accomplished" when it comes to spreading awareness, there's also some data in this poll that gives us hope for the next phase - adoption.

21% of people believe cryptocurrencies will one day "be as commonly used a payment method as card or cash" - that means while only 7% of people own it - 3x that amount of people believe in it's future.

That's really something to consider - only 1/3 of people who believe in Bitcoin's potential have yet to acquire any - that presents a very clear path for strong future growth.

The full survey results can be found here.

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Author: Mark Pippen
London News Desk