A recent study by the Nakamoto Institute delved into the demographics of Bitcoin ownership in the United States, revealing surprising findings about cryptocurrency investors. Led by Troy Cross and Andrew Perkins, the research analyzed responses from a survey of 3,538 American adults to explore the underlying socio-political and moral factors influencing BTC-related financial decisions.
Demystifying the Average US Bitcoin Holder
The study aimed to uncover the identities of Bitcoin owners and non-owners and the motivations behind their choices. It went beyond surface-level demographics to understand the deeper psychosocial aspects of financial decisions, as noted by Troy.
Contrary to popular beliefs, the study found a diverse range of political identities among BTC owners in the US, with no strong correlations across various dimensions like race, ethnicity, religion, relationship status, income, education, or financial literacy. However, there were exceptions with age and gender being significant indicators, as highlighted by Cross.
Bitcoin owners in the US are typically younger, male, and come from varied political backgrounds, including those identifying as ‘very liberal’.
One of the most surprising outcomes was the political diversity among Bitcoin owners, defying common expectations that ownership skewed towards the political right or libertarianism. The data revealed a more balanced representation across the political spectrum, contrary to the anticipated trends.
Despite assumptions, Bitcoin ownership reflects the broader American population, mostly consisting of moderates with smaller conservative and liberal groups. The study clarified that while more Bitcoin owners might be very liberal compared to other political identities, the majority are moderates.
Regarding moral foundations, the research found a mix of both liberal and conservative values among Bitcoin owners, demonstrating a lack of significant bias towards either end of the spectrum.
Key characteristics of BTC owners include their level of knowledge and trust in the cryptocurrency. Ownership is strongly correlated with understanding Bitcoin, belief in its trustworthiness and utility, and positive moral perceptions, distinguishing owners from non-owners.
The study concluded that BTC owners are defined by their familiarity with and positive attitudes towards the technology rather than belonging to a specific political or demographic group. It emphasized that Bitcoin ownership is driven by informed decisions and favorable opinions about its utility and ethics.
As of the latest update, the price of BTC stands at $66,625.
