Surveys Indicate a Soar in Canadian Bitcoin Ownership
The Canadian market opens up to Bitcoin awareness with users significantly growing in numbers throughout the past twelve months according to recent surveys conducted by the nation’s central bank.
During last year’s peak values of $20K dollars, an official survey was issued by the BTCOS accounting for 2,500 users. The central Canadian bank noticed a rise in bitcoin owners in the country from under 3% in 2016 to 5% by the end of 2017. This significant increase accounts for a 72% yearly increase among Canadian citizens participating in the crypto market.
In addition, the study also indicated an overall boom in bitcoin awareness from only 64% during 2016 to 85% toward the start of 2018. The survey also highlighted a change in social understanding of the alternative currency, indicating opinions on the level of government backing has decreased from 78% of the population to only 37%.
Another shift in Canadian public perspectives was noted by the survey to have shifted from purchasing bitcoin for the mainly transactional usage in 2016 to being seen through the lens of valuable investments by the following year. An increase of 12% of the Canadian public stated that they choose to own bitcoin at the chance that the digital currency may rise in value as it has in the past. A main driving force towards investing into the currency was linked to the general sense associated with fear of missing out. This notion was mirrored with 12% of surveyed individuals claiming that they only bought into the currency because their friends and families were also owners.
Nevertheless, the nation’s bitcoin holdings generally remain minimal, as 32% of surveyed Canadians stating they posses values under 0.1 BTC in combination with 34% owning under 0.05 Bitcoin.