There are five points that speak to us about the world’s most popular cryptocurrency Bitcoin (BTC) and crypto in general in a global survey by the World Gold Council (WGC), the market development organization for the gold industry.
The new consumer research report encompasses opinions of 18,000 people, across the world, including China, India, North America, Germany and Russia. The researchers have discovered that “gold is a mainstream choice – the third most consistently bought investment, with 46% of global retail investors choosing gold products.”
While the report focuses on how to promote gold and bring new audience to its world, all these can be theoretically applied to the Cryptoworld as well, as many Bitcoiners are trying to establish the “Bitcoin is a digital gold” narrative. Moreover, the fact that this nascent technology found a place in a major gold-focused survey speaks for itself. Possibly, an ad campaign ‘Drop Gold,’ launched by cryptocurrency asset management firm Grayscale in May, has also made its part.
Here are the five things in the survey that tell something important about the adoption of Bitcoin and other cryptocurrencies.
1. Investment loyalty
The report finds that consumers and retail investors are confident in gold across the world, more so than in their local currencies, with:
- 67% of all retail investors believing that gold is a good safeguard against inflation and currency fluctuations
- 61% trusting gold more than fiat currencies
- 65% believing it won’t lose its value over the long-term.
Also, people that have had an interaction with a product are more likely to buy it, the report finds. 40% of cryptocurrency investors said that they will definitely buy it again, which is the same share as in the case of investment funds, while stocks & shares are slightly less attractive.
Moreover, the report showed that more people invested in cryptocurrencies than commodity…