A new recent survey shows that 93% of UK citizens know about Bitcoin’s existence. This survey was conducted by YouGov and reported by Forbes a few days ago. Although the market was in a bear trend during the whole year, Bitcoin seems to be a growing alternative in some minds to classic financial institutions.
UK Citizens Know About Bitcoin
Bitcoin (BTC) seems to be a known digital asset among UK citizens. Not only 93% of individuals in the country know about it, but also 20% said that they know the technology behind Bitcoin very well.
Blockchain technology is the technology used by Bitcoin and other virtual currencies to process transactions. However, blockchain technology is also capable of enhancing many other industries such as international commerce, health, education and more.
During the last years, Bitcoin was able to rapidly grow all over the world. The most popular virtual currency gathered an important amount of attention from the media. During the last bull run, Bitcoin was a very important topic among financial experts. Indeed, Bitcoin was one of the main topics during the last Christmas.
In 2018, Bitcoin lost an important part of its value. The same happened with other digital assets in the market. In the near future, a new bull run could start fueled by the Bakkt platform and the approval by the U.S. Securities and Exchange Commission (SEC) of a Bitcoin ETF.
The survey showed that 43% of the respondents in the UK expect the status quo in the financial market to continue. Almost half of the respondents do not believe that virtual currencies will be able to be as common as cash or card.
In another study conducted by Edelman, 25% of millennials in the US use or hold virtual currencies. Additionally, 31% mentioned that they are interested in virtual currencies. And surprisingly, 74% said that they believe that Blockchain technology can enhance the global financial system.
At the time of writing, each Bitcoin can be purchased for $6,400 dollars. It also has a market capitalization of $110 billion dollars.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
