The BC (Bank of Canada) has recently found out impressive statistics about the allocation of BTC’s ownership throughout the nation. By the research of the BC in 2021, 13% of Canadian people owned Bitcoin, yet, the investors, who had got average financial knowledge, were less likely to spend money to invest in that sphere.
As the survey of the Bank of Canada informs, in 2018-2020 years, only 5% of Canadians owned BTC. The data of 2021 tells us, that the percentage of Canadians owning Bitcoin increased by more than two times, which was caused by the extension of products for buying the biggest cryptocurrency and huge savings, that Canadians gathered during the COVID-19 pandemic.
Do Canadians Really Know about Bitcoin’s Existence?
Approximately 90% of Canadian people are aware of the appearance of the most famous cryptocurrency in the world. This cognizance of Canadians overlaps the data of a survey, which was done by Grayscale in the year of 2021. As that survey informs, 99% of American investors know about the existence of Bitcoin.
Yet, as the BC’s report says, only a little part of Canada’s population is really well-informed about the concept of Bitcoin. When Canadians were asked about basic questions relating to Bitcoin, the 40% of BTC owners and 66%, who didn’t own BTC showed a really low level of awareness about this cryptocurrency. Though, the percentage of well-informed people was quite high and was obviously better, than the result of the previous years (nearly 30%).
The Relations of Canadians with Bitcoin
The reason of purchasing BTC also depended on the time, when they bought the cryptocurrency. The first part of people, who owned Bitcoin for a long time, relied this cryptocurrency, because of the lack of trust towards the government or, they just appreciated it for being the best payment method. The second part of Canadians, who started to buy BTC after the year of 2019 were highly interested in Bitcoin, because they accepted that cryptocurrency as an “innovative technology”.
It’s quite obvious, that the big part of BTC-owner-Canadians were not whales. Factually, 70% Canadians, who owned Bitcoin had no more than $5000 CDN in value, compared to a median owning nearly $500 CDN.
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