Cryptocurrencies

Newsweek: 46 million Americans hold Bitcoin (BTC)

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Too little is ridiculous, too big is too much! Newsweek uses figures from a study on the adoption of Bitcoin (BTC) in the United States: 46 million reasons to react to crypto personalities and anonymous cryptophiles.


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On May 11, 2021, an article by Newsweek indicates that “46 million Americans now own Bitcoin as cryptocurrency goes mainstream“.


The CEO of MicroStrategy, Michael saylor, of course did not fail to use these figures in a tweet to promote the BTC : “The financial sector integrates cryptocurrency into its insurance, banking and investment products. 46 Million Americans Now Own Bitcoin, Newsweek Says“.

According to the co-founder of Coin Metrics, Nic carter, the number of bitcoiners constitutes “a powerful interest group that cannot be ignored. The political fallout from adopting Bitcoin is huge“.

The growth lead at Kraken, Dan Held, also went there with a promotional tweet, specifying that these 46 million Americans represent 22% of adults.

Millions and mistakes?

The reactions of redditors on the r / bitcoin subreddit are much more careful. Some believe that the 46 million announced by Newsweek are “grossly exaggerated”.

For the redditor u / unfuckingstoppable : “It looks very high. I don’t know a single person who has them, and that says 1 in 6 or 7 people have them. ”

A survey from January 6 to 7, 2021 among 1,050 participants with an income above $ 500,000, conducted by the New York Digital Investment Group (NYDIG), had brought out these figures on the adoption of Bitcoin to the United States. The results are to be interpreted with a margin of error of 3.1%.

This survey was repeated in NYDIG’s March 22, 2021 survey of 2,184 US consumers, which focused on Bitcoin and life insurance. The results are to be interpreted with a margin of error of 2.1%. Newsweek based on this study for his article.

The figures of NYDG are lower than those from the survey conducted in October and November 2020 of Gemini with 3,000 people. The results were released in April 2021. According to the exchange, approximately 21.2 millionAmericans, or 14% of the US population owns cryptos.

Newsweek also pointed out that 53% of those surveyed “said they did not own any digital assets, but 55% said they would consider adding crypto to their wallet“.

The war of numbers is part of the war of adoption: it shows that 1 plus 1 does not necessarily amount to 2 once it is debated.

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Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which seem to be far too technical.

DISCLAIM

The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.

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