Bitcoin has been on a wild ride lately, sending everyone from traditional businesses to individual investors scurrying for a slice of the crypto pie. This report delves into the public interest and understanding of the still-new concept of digital currency. Crypto wallet providers can leverage this data in their decision-making. 

 Elon Musk’s Tesla created quite the buzz recently when it bought $1.5 billion of Bitcoin with plans to start accepting it as payment in the future. The billionaire himself bought Dogecoin, a meme-inspired cryptocurrency, for his son, sending its value soaring in an instant. From being seen only as an investment to becoming a valid mode for online purchases, cryptocurrency seems to be finally gaining acceptance among mainstream investors, as seen by all the renewed interest and discussions. Amid all the buzz, what do Americans think about the concept of digital currency? Piplsay polled 30,330 people nationwide to get some insights. Here is a summary of what we found:

Other Insights

• 38% Millennials understand cyrtocurrency as compared to 33% of Gen Xers and 29% of Gen Zers
• 42% of Millennials think cryptocurrency is safe as compared to 34% of Gen Xers and 24% of Gen Zers
• About 32% of Millennials and Gen Zers each and 29% of Gen Xers plan to invest in cryptocurrency this year

Survey Methodology: This Piplsay survey was conducted nationwide in the US from February 15-16, 2021. We received 30,330 online responses from individuals aged 18 years and older.