The popularity of Bitcoin has been unquestionably given a boost with the recent price hike that bolstered its value above the $12,000 mark. Popular personalities from mainstream finance were also part of the roster which praised Bitcoin’s growth and its inadvertent pickup in adoption.
The rise in awareness about the world’s largest cryptocurrency was pointed out in a recent Coinbase blog and Balaji Srinivasan, previously the Chief Technical Officer [CTO] of the exchange tweeted:
“58 percent of Americans now say they’ve heard of Bitcoin. More people searched on Google last year for Bitcoin than the “royal wedding” or “election results”.”
The survey undertaken by Coinbase discovered that around 37 percent of Americans without being prompted by a list of options, named Bitcoin as the cryptocurrency that they had heard about. California, New Jersey, and Washington, in that order, had the highest percentage of people who had some basic cryptocurrency knowledge. Coinbase further noticed that the concept of cryptocurrencies was considered to be as difficult as artificial intelligence or nanotechnology and there was still some way to go before it can be considered as fully mainstream.
Another analysis looked at the largest average value of cryptocurrencies owned per user in America. Coinbase stated:
“Several of the top states for crypto-owners (California, New York, and Washington) also have the biggest per-capita holdings — that is to say, they have a large number of people who not only own crypto, but also have larger holdings. Interestingly, there’s yet another category, which includes states with a lower overall percentage of crypto holders, but a higher per-capita ownership — that is, a smaller number of people who each hold a larger than average chunk of cryptocurrency.”
Bitcoin and the rest of the cryptocurrency market have broken out of the niche category as many mainstream portals have started keeping tabs on the rise and fall of the digital assets industry.