Decoding the Average US Bitcoin Holder
Do you ever wonder who the typical Bitcoin owner in the United States is? A recent study conducted by the Nakamoto Institute provides some surprising insights into the demographics of Bitcoin ownership in the US, challenging common assumptions about cryptocurrency investors. Led by Troy Cross and Andrew Perkins, the research analyzed responses from a survey of 3,538 American adults to delve deeper into the socio-political and moral motivations underlying financial decisions related to Bitcoin.
Political Spectrum of Bitcoin Owners
Contrary to popular belief, the study reveals a wide range of political identities among Bitcoin owners in the US, challenging the stereotype that enthusiasts primarily lean towards libertarian or right-leaning views.
- No strong correlations across various dimensions like race, ethnicity, religion, relationship status, income, education, or financial literacy with Bitcoin ownership
- Exception: Age and gender, with owners tending to be younger and predominantly male
- Representation across all political orientations, including ‘very liberal’
Diversity in Political Affiliations
The study uncovered a surprising degree of political diversity among Bitcoin owners, contrary to expectations:
- Owners mirror the broader American population, with moderate views dominating
- Contradicts the assumption that ownership skew towards the political right or libertarianism
- Most Bitcoiners identified as moderates
Moral Foundations and Bitcoin Ownership
Examining ethical values, the study found:
- Representation of liberal and conservative moral values among Bitcoin owners
- No significant bias towards one particular ethical standpoint
Factors Influencing Bitcoin Ownership
Two key factors emerge as defining characteristics of Bitcoin owners:
- Levels of knowledge and trust in the cryptocurrency
- Strong correlation with understanding Bitcoin, perceiving its utility, trustworthiness, and ethical value
Characterizing the Typical Bitcoin Owner
The study concludes that Bitcoin owners are distinguished by:
- Familiarity with and positive perceptions of Bitcoin’s utility and ethics
- Not confined to a specific political or demographic niche
Current State of BTC
As of now, Bitcoin is trading at $66,625.
Implications of the Study
The study challenges preconceived notions about Bitcoin ownership, highlighting the importance of knowledge, utility, trust, and ethics in shaping the identity of a typical Bitcoin owner in the US.
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