The number of Canadians who own bitcoin almost doubled during the year, according to the result of survey conducted by the Bank of Canada.
The Survey By Bank Of Canada
With the help of the survey, Bank of Canada hoped to determine “the driving reasons for ownership during the sudden rise in Bitcoin prices” and to “understand the potential impact of bitcoin on the Bank of Canada’s performance of its basic functions”. This is stated in the analytical note accompanying the results of the survey.
The regulator conducted a similar survey in 2016 and concluded that over the past year interest in bitcoin has grown. In addition, the number of bitcoin owners among survey participants for this period increased from 2.9% to 5%. The level of awareness of the cryptocurrency reached 85%.
The survey received responses from 2,500 Canadians from different parts of the country. Most knowledge about bitcoin has grown in the French-speaking province of Quebec – more than 20% over the past year.
The results of the study also showed significant progress in understanding the essence of Bitcoin by Canadians. The number of Canadians who believe that bitcoin is “government-backed” has fallen by 40% relative to the previous survey.
In addition, about half of Canadians who own bitcoin do not use it to make transactions. They prefer to keep the cryptocurrency “as an investment.”
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