Research shows Bitcoin is highly favored among the younger generation in the United States.

A recent survey revealed that Bitcoin is highly favored by young people. Despite Bitcoin hovering around $5,000 at the time of the survey, a majority of young Americans expressed strong willingness to purchase cryptocurrencies in the next five years.

The venture capital firm Blockchain Capital commissioned a research report in April 2019, conducted by The Harris Poll, which included a sample of 2,209 American adults.

The survey measured the general sentiment towards Bitcoin among Americans. The topics covered included awareness, familiarity, viewpoints, beliefs, and willingness to buy cryptocurrencies. The survey indicated that young people are the driving force behind the advancement of cryptocurrencies.

The results showed that Bitcoin is predominantly led by a younger demographic, with the only commonality between older and younger groups being that regardless of age, the vast majority of Americans have heard of Bitcoin, and the number has increased compared to the survey conducted in 2017.

Spencer Bogart, a partner at Blockchain Capital, pointed out:

The 2017 survey was conducted during a bull market. This one was during the bear market from April 22 to 25 this year.

Despite Bitcoin hovering around $5,000 at the time, the data showed a significant increase in awareness, familiarity, cognition, belief, willingness to purchase, and ownership percentage of Bitcoin.

The familiarity with Bitcoin increased from 30% in October 2017 to 43% this year, with the proportion among 18 to 34-year-olds rising from 42% to 60%.

Among those aged 18-34, 59% "strongly" or "somewhat" agree that Bitcoin has a positive impact on financial innovation, an increase of 11 percentage points.

Furthermore, the willingness to buy Bitcoin also progressed in 2019, increasing from 19% to 27%. The buying intention of the younger demographic increased by 10%.

It is understood that financial management company Bankrate conducted a study from June 25 to 30 this year, with a sample of 1,015 respondents. The purpose was to identify the most popular long-term investments among Americans. The survey indicated that 4% of Americans believe that cryptocurrency is the best way to invest for the long term.

Prior reports from ABM indicated that the Bitcoin search index in various U.S. states continues to rise, YouTube's search volume for cryptocurrencies has reached an all-time high, and Facebook's Libra project keeps the public's attention on this evolving ecosystem.

Further Reading

• Can Libra Change Cuba? Overview of Cuba's Cryptocurrency Industry
• Kaspersky Report: 19% of World Population Has Purchased Cryptocurrency

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