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Bitcoin as a digital currency is still in its infancy with the mainstream public. While many people will recognize the name, few have actually bought bitcoin as a viable investment. Even fewer use it as a means to purchase goods and services. That could all change in the not-to-distant future in light of current public perception.
In a recent post for Decrypt that was reposted on Yahoo Finance, writer Guillermo Jimenez covered Bitcoin’s (BTC) increased awareness. He sites a Coinbase.com report that was very bullish on the world’s biggest cryptocurrency. The general consensus of that report states that BTC awareness among the US population is on the rise.
Binance and Coinbase are the leading crypto exchange for digital commerce. It believes that Americans are more open to investing in BTC and other cryptos. It also believes that a much larger portion of the population has a strong “intent” to buy into this market.
The information gathered comes from Coinbase’s own internal analytics of customer activity. It is also basing these findings on a December, 2018 survey. The survey conducted by YouGov polled 2000 US internet users 18 and older.
The report states that 58 percent of all Americans have at least heard of Bitcoin in terms of cryptocurrencies. When asked independently without the mention of cryptos, that awareness dropped to 37 percent on the name bitcoin alone.
Using name recognition with a third of the population as its rational, Coinbase declared that “Bitcoin is going mainstream in America.” It backs this up with data from Google searches. These numbers have climbed dramatically with BTC’s market rally this year.
A recent crash in the price of BTC actually caused the Coinbase website to crash the last Wednesday in June. Market panic during this roller-coaster ride in price is definitely raising awareness these days.
One offshoot of increased awareness is more attention from US lawmakers. For better or worse, BTC and other cryptos are officially on the radar screen in Washington, DC.
When it comes to BTC awareness on a state level, New York ranks high on the list. However, the BitLicence scheme of 2015 has made New York one of the least crypto-friendly states from a legislative standpoint.
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