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A survey commissioned by Satoshilabs finds that from the 45.8% of American respondents that say they own cryptos, nearly all of them (95%) believe cryptos to be a genuine currency solution. In addition, about 31.7% of those surveyed see crypto as a legitimate alternative to the U.S. dollar, while 40% still slightly favor fiat cash.<\/strong><\/p>\n The Satoshilabs survey, which assessed the awareness of cryptocurrencies among the different demographic groups, sought views from more than a thousand Americans across the country. Writing in a blog<\/a> that explains the survey\u2019s findings, the author(s) suggest that \u201cthe huge injection of dollars into the economy has warmed the public to the idea of cryptocurrencies.\u201d The injection of new dollars into the economy dilutes<\/a> the value of money and makes the U.S. dollar a less appealing store of value.<\/p>\n Meanwhile, in addition to finding that more Americans are now amenable to digital currencies, the survey also found that even fewer people now perceive cryptocurrencies as tools primarily used by bad actors. According to the survey, \u201conly 4.9% of those who haven\u2019t invested yet feel that crypto is a scam.\u201d<\/p>\n With fewer Americans having a negative perception of cryptos, there is now \u201cvery little left to obstruct bitcoin and cryptocurrencies in general\u201d opines the authors of the blog. Nevertheless, there is still work that needs to be done as the post continues:<\/p>\n Educational resources are key to helping people make the jump, and there are many more places to learn nowadays than existed in the previous bull-run.<\/p>\n<\/blockquote>\n In the meantime, the survey respondents also had their say on what they believe to be \u201cmain obstacles stopping bitcoin from being more widely accepted.\u201d Nearly 38% said \u201cbitcoin is not easy to understand,\u201d while 26.4% say \u201cpeople worldwide are simply ignorant of cryptocurrencies\u2019 complexities.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n Another key takeaway from the survey is the very different answers given by respondents when asked about their awareness of the current state of the market. As the blog explains:<\/p>\n Opinion on the future price of one bitcoin was quite equally divided across the price points of $100, $1,000, $10,000, $15,000, $20,000, $100,000, with around 15% of investors\u2019 votes going to each.<\/p>\n<\/blockquote>\n Only half of the remaining 10% agree with predictions that bitcoin will reach a price that is over $100,000 in a year.<\/p>\n At the same time, \u201conly just 4% of the group invested in bitcoin estimated it would be worth a single dollar in one year\u2019s time.\u201d<\/p>\n What are your thoughts on the findings of this survey? Share your views in the comments section below.<\/strong><\/em><\/p>\n The post Report: Cryptos Set for Massive Adoption in the US as More Americans Embrace Digital Alternatives to the Dollar<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nThe Impact of Money Creation<\/h2>\n
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Key Obstacles to Crypto Adoption<\/h2>\n
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