Bitcoin Will Eventually Be Transacted More Than Fiat Currency, Say 35% of Australians Surveyed

A new survey finds that 35% of Australians believe bitcoin will eventually be transacted more than fiat currency. Almost the same number of respondents believe that bitcoin “has a significant role to play in the future of currency.”

• Comparison platform Finder published Tuesday the results of a cryptocurrency survey, which it described as a “nationally representative survey of 1,012 Australians.”
• The respondents were asked whether they agreed with various statements about bitcoin. They must either agree or disagree.
• One of the statements was “Bitcoin will eventually be transacted more widely than traditional money.” The company commented:

The research revealed that 1 in 3 Australians (35%) believe bitcoin will eventually be transacted more than fiat (traditional) currency.

• Kate Browne, a personal finance expert at Finder, opined: “While only 17% of Aussies own cryptocurrency, twice that amount believe it has a significant role to play in the future of currency.”
• Overall, Gen Z (52%) were the most likely to believe bitcoin will be more popular than centralized currency, followed by millennials (45%) and Gen X (30%). Only 17% of baby boomers agreed.

• Respondents were also asked whether they agreed that “Bitcoin is a legitimate investment.” 50% said yes. Meanwhile, 63% believed that “bitcoin is purely speculative.”
• Another statement was “Bitcoin is a bubble that will eventually burst,” to which 73% agreed.
• The respondents were also asked if they have an app that lets them trade cryptocurrency. 15% said yes while 73% said that they did not have a crypto trading app and did not plan to get one. A further 12% said they did not have a crypto trading app but intended to get one.