According to a new poll, 35% of Australians believe bitcoin will be used more than a fiat currency in the future. Almost the same amount of people believe bitcoin will play a key role in the future of money.
The results of a cryptocurrency study, termed as a “nationally representative survey of 1,012 Australians” by comparison site Finder, was released on Tuesday. The respondents were asked if they agreed with certain bitcoin assertions. Either agree or they don’t. “Bitcoin will someday be exchanged more broadly than traditional money,” said one of the remarks. The following is what the corporation said:
According to the study, one-third of Australians (35%) believe bitcoin will be used more than fiat (conventional) currency in the future.
“While only 17 percent of Australians possess cryptocurrency, double that number feel it has a big role to play in the future of currency,” said Kate Browne, a personal financial specialist at Finder. Overall, Gen Z (52 percent) believes bitcoin will become more popular than centralized currency, followed by millennials (45 percent) and Gen X (42 percent) (30 percent ). Only 17% of baby boomers agreed with this statement.
In addition, respondents were asked if they agreed that “Bitcoin is a genuine investment.” Yes, 50% of the people replied yes. Meanwhile, 63% of respondents thought “bitcoin is entirely speculative.” Another assertion that 73 percent agreed with was “Bitcoin is a bubble that will eventually bust.” The participants were also questioned if they have a cryptocurrency trading app. Only 15% replied yes, while 73% claimed they didn’t have a cryptocurrency trading app and had no plans to purchase one. Another 12% said they didn’t have a cryptocurrency trading app but planned to buy one.