Report on Bitcoin Ownership in the United States: Key Findings from The Nakamoto Project
A recent report authored by Troy Cross and Andrew Perkins for The Nakamoto Project explores the landscape of Bitcoin ownership among American adults. The survey, which included 3,538 participants, provides insightful findings regarding the demographics, political affiliations, moral values, and predictors of Bitcoin ownership in the United States.
Demographic Overview of Bitcoin Owners
The study reveals that, in terms of race, ethnicity, income, education, and financial literacy, Bitcoin owners resemble the broader U.S. population. However, there are notable demographic distinctions: Bitcoin ownership skews young and male. This trend aligns with broader patterns in technology adoption, where younger generations and males often lead in early adoption.
Bitcoin Ownership By Age: SOURCE
Political Diversity Among Bitcoin Owners
Bitcoin ownership spans the entire political spectrum, indicating that interest in Bitcoin is not confined to any single political ideology. Individuals across conservative, liberal, and moderate identities are engaging with Bitcoin, suggesting its broad appeal and potential as a universally recognized asset
Political Orientation: SOURCE
Moral Values and Bitcoin Ownership
The moral values of Bitcoin owners show a unique blend, emphasizing equality, proportionality, loyalty, and purity. However, these moral orientations are less predictive of Bitcoin ownership than other factors. This suggests that while Bitcoin owners may have distinctive moral values, these are not the primary drivers of ownership.
Key Predictors of Bitcoin Ownership
The strongest predictors of Bitcoin ownership are knowledge about Bitcoin, trust in the Bitcoin protocol and asset, belief in the utility of Bitcoin, and the perceived morality of Bitcoin. Each of these factors is highly correlated with the others and strongly predictive of ownership. Individuals who are knowledgeable about Bitcoin, trust its protocol, believe in its utility, and perceive it as morally sound are more likely to own Bitcoin.
How People Perceive Bitcoin: SOURCE
