People around the world are increasingly trusting Bitcoin over big banks, according to a new survey conducted by fintech news site The Tokenist. The survey, which polled 4,852 participants across 17 countries, found that 47% of respondents trust Bitcoin over big banks, an increase of 29% in the past three years.
Tokenist Report: "Comparing Public Bitcoin Adoption Rates in 2020 vs 2017"
The survey also showed a striking generation gap when it comes to Bitcoin and the banks. While over half (51%) of millennials trust Bitcoin over big banks, an increase of 24% over 2017, over nine in ten (93%) of over-65s trust big banks over Bitcoin.
The over-65s are wary of Bitcoin in general, with half of those polled thinking that it’s a bubble, versus less than a quarter (24%) of millennials.
Millennials’ embrace of Bitcoin is partly down to increased familiarity; 78% of millennials are “somewhat” familiar with Bitcoin, versus 61% of total respondents, and 14% of them have owned Bitcoin. In the next five years, 44% of millennials expect to buy some Bitcoin.
78% of millennials are “somewhat” familiar with Bitcoin (Image: The Tokenist)
Not surprisingly, then, the survey also found that 59% of millennials are confident that Bitcoin will see mass adoption within the next 10 years, and that most people around the world will likely be using it by that time.
Confidence in Bitcoin up across the board
While millennials may be leading the way in Bitcoin adoption, the survey found “increased knowledge of, and growing confidence in, Bitcoin among all age and gender groups surveyed,” its writers stated.
Six in ten (60%) of those polled felt that Bitcoin is a positive innovation in financial technology, an increase of 27% in three years. And over 45% of respondents preferred Bitcoin over stocks, real estate and gold.
“Three years ago, many of the largest BTC brokers were relatively new and were therefore accorded a low level of trust,” said the report’s writers. “Now, there appears to be an appreciation of the maturity, and stability, of these providers.”
Alabama securities regulators have seized more than $125,000 in crypto assets for two residents who fell victim to elaborate "pig butchering" scams that collectively cost them nearly $580,000.
The Alabama Securities Commission recovered $53,227.81 for a Baldwin County resident who lost approximately $185,000, and $73,927.68 for an Etowah County victim who was defrauded of $395,000 in separate schemes that began on dating apps and messaging platforms earlier this year, as per a Friday statement....
Republican Party strategist Chris LaCivita, one of the architects of U.S. President Donald Trump’s winning presidential campaign in 2024, pointed to the two-term commander-in-chief’s embrace of cryptocurrencies as a lynchpin for his political comeback.
Speaking at the Coinbase State of Crypto Summit in New York City on Thursday, LaCivita said targeting so-called crypto voters helped President Trump court a lot of supporters, particularly those belonging to voter blocs that have traditionally pr...
Tornado Cash co-founder Roman Storm issued one of his starkest rebukes yet of the Trump administration’s Department of Justice on Friday, arguing that if federal prosecutors prevail in the developer’s upcoming criminal trial, decentralized finance could be permanently destroyed.
“The DOJ wants to bury DeFi, saying I should’ve controlled it, added KYC, [and] never built it,” Storm wrote. “SDNY is trying to crush me, blocking every expert witness.”
“If I lose, DeFi dies with me,” the crypto devel...