Despite growing mainstream adoption, many Americans still have no idea what cryptocurrencies are, including Bitcoin, Ethereum, and Dogecoin, according to a recent Harris Poll survey.
Harris Poll surveyed nearly 2,000 Americans in mid-February. The survey revealed a surprising result: over one in 10 adults in the U.S. still have not heard of Bitcoin, Ethereum, and Dogecoin.
Only 16% of respondents said that they were “very familiar” with crypto like Bitcoin, Ethereum, and Dogecoin. Around half of surveyed respondents said they had come across the names before.
However, an overwhelming number - 61% - of respondents said that they had limited to no understanding of how these digital assets functioned.
Four percent of respondents familiar with the digital assets believe that Bitcoin’s price may someday plummet to $0. Eight percent predict it might climb over $100,000.
Almost half of respondents — 43% — are skeptical that crypto constitutes a valid payment method, while nearly a third of surveyed Americans think crypto might vanish in the future. Only 34% expect crypto to become a standard payment method.
Age did not directly correspond to trust or optimism about cryptocurrency. Nearly 60% of Gen Z respondents aged 18 to 24 said that crypto constituted a "very" or "somewhat" valid payment method, while nearly 70% of millennials, or 25 to 40 year olds, said the same.