Americans Believe Bitcoin (BTC) Will Outlast the Euro
A recent Harris Poll conducted on behalf of the Blockchain Capital reveals that more than one in every three Americans is likely to buy Bitcoin in the next five years. They are also confident that it will outlast the Euro.
Bitcoin is better than Stocks, Real Estate, Gold, and Government Bonds
Out of those surveyed, 55 percent of young adults between 18 and 34 years were willing to buy BTC in the next half a decade. 41 percent of those who participated also believe most people will be using Bitcoin in the next decade.
Increasingly, young adults between 18 and 34 years now prefer to hold Bitcoin than stocks, gold, government bills and notes, and real estate. Markedly, there are notable changes in those willing to invest in Bitcoin rather than hold real estate and the yellow metal, gold.
Compared to the 2019 survey, the learning phase is saturated. Roughly 90 percent of Americans now know what Bitcoin, pointing to a smooth transition from the learning to the conviction phases of the adoption funnel.
Notably, more Americans now agree Bitcoin is a positive innovation in finance; the majority of whom are younger demographics below 34 years.
Interestingly, the survey discovered that Americans were not concerned about the Bitcoin price. More, regardless of the drop from 2017 highs, are willing to invest in the digital asset over traditional instruments. Explaining this could be their performance versus Bitcoin in the last decade.
Bitcoin is Proving Itself
Within that time, the Bitcoin price rose one million percent, trouncing returns from gold, real estate, miles ahead from government bonds yields, and stocks. Bitcoin prices have since recovered, printing new highs in some exchanges, and more than doubling since halving in May 2020.
Amid the coronavirus epidemic that has adversely affected the global economy, billionaire investors and executives from leading banks are now comparing gold to Bitcoin.
Years back, the digital asset was described as speculative, without intrinsic value, and its rise to $20k a bubble.
The bubble was popped when prices sunk by over 75 percent. However, the recovery over the last two years has spectacular, proving the worth of the digital asset and the importance of the network.
As BTCManager reported, Ray Dalio thinks Bitcoin can be an interesting diversifier of gold despite his previous concerns of volatility and limited use case.