The results of this survey on who owns Bitcoin will surprise you

From a demographic perspective, it won’t come as a surprise that most Bitcoin investors are young and male, but beyond that, there’s a fair amount of diversity.

A new report sheds light on who tends to own Bitcoin (BTC) in the US

The Nakamoto Project’s initial study finds that investors tend to be of all political views, not just conservatives or libertarians.

This supports the idea that crypto ownership and regulation is a bipartisan issue and that greater cooperation is needed between both Democrats and Republicans to serve consumers.

American Bitcoiners come from all political persuasions, but they tend to be mostly moderate.

Nakamoto Project

Demographically, it won’t come as a surprise that most BTC investors are young and male, but beyond that, the researchers found a lot of diversity in terms of race, ethnicity, income, and education.

Thousands of adults were surveyed nationwide, using census data to ensure the survey was as representative of the U.S. population as possible.

Source: Nakamoto Project

It was particularly notable that Bitcoin holders were more likely to see themselves at the extreme ends of the political spectrum, whether very liberal or very conservative.

While figures like Donald Trump and JD Vance have emphasized the need for pro-Bitcoin policies, the authors emphasize that this is not an issue that only concerns Republicans.

The politicization of Bitcoin ownership among politicians, media elites, and social media users is misleading. The distribution of Americans who own Bitcoin by political category is very similar to the political distribution of all Americans by these categories. Bitcoin ownership is apolitical.

Nakamoto Project

From a moral perspective, Bitcoin users value cultural freedom and equality more than non-Bitcoin owners who identify as liberal or conservative.

But as you might expect, there was a much greater divide when all Americans surveyed were asked whether they agreed with a series of statements regarding Bitcoin.

BTC investors were much more likely to say they trust the underlying technology that powers the Bitcoin blockchain, believe in the digital asset’s potential as an everyday payment method, and defend the morality of the technology — not to mention the people who hold it.

Learning about Bitcoin fosters trust in the protocol, which leads to belief in its utility and awareness of its potential for social good, which motivates individuals to buy or invest in Bitcoin. Instead, however, individuals may first buy Bitcoin as an investment or to use for payments, and then be motivated to learn more about it, which leads to awareness of its utility, belief in its goodness, and trust in the protocol.

Nakamoto Project

The Bitcoin space has often faced claims that it is highly cultish, that it defines someone’s identity, and that that person is politically skewed in a certain way.

However, based on the results of the survey, the Nakamoto Project concluded that this is not true: a Bitcoin user’s political views coincide with his peers.

The thing that is most strongly correlated with Bitcoin ownership is not who you are, so to speak, but how much you know about Bitcoin and whether you find it useful, reliable, and good. It turns out that 14% of Americans who own Bitcoin are not members of any particular political tribe. Rather, they are simply Americans who have taken the time to study the technology and form positive attitudes toward it.

Nakamoto Project

So… what do we make of this? Perhaps those who are neutral or even negative about Bitcoin need to dig deeper to fully understand what this cryptocurrency is all about and get an idea of ​​its merits.

Education from cryptocurrency exchanges, investors, and influencers (not to mention news sites like this one) is crucial to explaining complex concepts and conveying what Bitcoin represents beyond its reputation as an ever-increasing asset class.

This could mean simplifying the language a bit, being less offensive to those who might have reservations about the crypto world, and ensuring that their trading platforms and wallets are as easy to use as their Web2 counterparts.

When it comes to these specific areas, crypto is still a long way from providing the same convenience as PayPal or Venmo. But step by step and step by step, things are getting better and there is a lot to be optimistic about.