Bank of Canada says, 85% of Canadians are Aware of Bitcoin

Chirayu Choubisa

July 12, 2018 12:40 pm

Bitcoin News

Bank of Canada says, 85% of Canadians are Aware of Bitcoin | Coindelite News
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As per the result of a newly-published survey by the Bank of Canada, the number of Canadians who own bitcoin nearly doubled over the course of a year.

Named the Bitcoin Survey (BTCOS), the nation’s central bank hoped to identify “the driving reasons for ownership amid the sudden rise in the Bitcoin prices,” as per the analytical note presenting survey results.

Having carried a similar survey back in 2016, the analysis found that there was increased enthusiasm in bitcoin’s price over the year. The outcome further show that ownership among Canadian rose from 2.9 to 5 percent overall awareness of the digital currency jumped to 85%.

The survey brought together voices from over 2,500 Canadians across the nation, with a majority French-speaking province of Quebec seeing the most significant increase in awareness of bitcoin. The population aware of bitcoin increased over 20% during the year.

Besides, the results reveal a significant improvement in general understanding about bitcoin with the proportion of Canadians believing bitcoin is “government-backed” falling about 40% from the earlier survey. Moreover, the new set found that around half of the Canadians who own Bitcoin do not utilize it to transact, but rather, hold the coins “as an investment.”

The timing of the survey is notable, given that December of last year saw the price of bitcoin spike to nearly $20,000.

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