SAN FRANCISCO, Nov. 8, 2017 /PRNewswire/ -- Today, venture capital firm Blockchain Capital released the results of a survey which found that awareness, sentiment and conviction in Bitcoin was most prevalent in younger demographics. Millennials (age 18-34)—and male millennials in particular—seem to have the most positive impression of Bitcoin and its future. When given a choice between $1,000 worth of Bitcoin and $1,000 worth of a traditional financial asset, 27 percent of millennials chose Bitcoin over an equivalent amount of stocks, 30 percent chose Bitcoin over government bonds, 22 percent chose Bitcoin over real estate, and 19 percent chose Bitcoin over gold.

The findings suggest that as Bitcoin adoption grows and millennials consider purchasing decisions, financial institutions may be wise to offer these assets and services in order to attract and retain millennial customers. To see the full findings, please visit http://www.survey.blockchain.capital/.

The survey, which was conducted online by Harris Poll among over 2,000 American adults ages 18+ during October of 2017, also found: 

• 30 percent of Americans are at least somewhat familiar with Bitcoin. Bitcoin awareness is significantly higher among younger demographics: 42 percent of millennials described themselves as at least somewhat familiar with Bitcoin versus just 15 percent for those ages 65+.
• Millennials, particularly men, may to turn to Bitcoin as a replacement for traditional assets.
• 30 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of government bonds (43% of male millennials vs. 21% of millennial women)
• 27 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of stocks (38% of male millennials vs. 19% of millennial women)
• 22 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of real estate (26% of male millennials and 19% of millennial women)
• 19 percent of millennials would rather own $1,000 worth of Bitcoin than $1,000 worth of gold (31% of male millennials vs. 10% of millennial women)
• Two percent of Americans own or have owned bitcoin, indicating Bitcoin is still in very early stages of adoption. However, adoption is significantly greater among millennials—four percent of whom own or have owned Bitcoin (6% among male millennials).
• While current adoption is relatively low, propensity to purchase is notably higher than current rates of ownership: Nearly one-in-five Americans (19%) indicate it's likely they'll buy Bitcoin in the next five years. The figure is even higher for millennials—32 percent of whom say it is likely they will buy Bitcoin in the next five years (including 42% among male millennials).
• Over half of millennials (52%) agree with the statement that Bitcoin is a positive innovation in financial technology.
• When given the choice between Bitcoin and big banks, more than a quarter of millennials (27%) cited Bitcoin as being more trustworthy than banks, including 37 percent of millennial men.

"The results of the survey reinforce our conviction in the massive opportunity that lies ahead for Bitcoin," said Spencer Bogart, managing director with Blockchain Capital. "This is why now, more than ever, we're excited to continue executing on our mission to invest in the entrepreneurs and developers that are turning this vision into reality."

Methodology:
This survey was conducted online within the United States by Harris Poll on behalf of Blockchain Capital from October 18-20, 2017 among 2,112 U.S. adults ages 18 and older, among whom 387 are millennials (ages 18-34).  This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes,  please contact blockchaincapital@sparkpr.com

About Blockchain Capital:
Blockchain Capital is the premier venture capital firm investing in blockchain technology companies. Launched in 2013, Blockchain Capital's initial fund was the first venture capital fund dedicated to the Bitcoin / blockchain ecosystem, and was also the first fund to accept capital calls in Bitcoin. Blockchain Capital is a sector specific, multi-stage, venture capital firm that seeks to gain diverse exposure to the blockchain ecosystem. The firm is based in San Francisco, and was founded by serial entrepreneurs and veteran Silicon Valley investors Bart Stephens and Brad Stephens. To learn more, please visit www.blockchain.capital and follow @blockchaincap

 

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SOURCE Blockchain Capital