The Binance news US now feature the CEO and head of Binance’s American Arm (Binance.US) Catherine Coley speaking about the general interest of Bitcoin in the country. Coley commented on the state of Bitcoin and cryptocurrency adoption in the United States, pointing out that the BTC could be a “spaceship” for many Americans.
However, all of this is greatly lagging behind when it comes to crypto adoption. And while there are many crypto enthusiasts in the states, the CEO said that adoption is pitifully low:
“While 55% of Americans own stocks, only about 6 percent own Bitcoin. On top of that, an overwhelming number of Americans — 68 percent — say they do not own and do not plan to buy Bitcoin in the future. That’s around 200 million people writing off Bitcoin before they’ve even given it a chance.”
BTC could be the opening gate for many Americans. Coley said that the reason for this is a huge “misunderstanding” which is fuelled by the mass media, which creates a narrative around cryptocurrencies that constantly links them with criminals or talks about their lack of intrinsic value. There is a great lack of decent educational material and crypto advocates.
Moreover, the media constantly ignores the fact that people “have paid for sketchy, illegal, and immoral products and services since the beginning of time, only they used cash.”
“We need more journalists, inside and outside of crypto, to recognize the value of crypto and look for ways to educate consumers without bias and with thorough research,” she added.
Despite the fact that Bloomberg recognized Bitcoin as the best performing asset this decade, the narrative surrounding this coin is that BTC is an investment where “real money goes to die” remains. This is why the media has had a mixed reaction on the Bitcoin price news over the past few years.
Coley concluded that unfortunately for Americans, it is not only cryptocurrency that many people are uninformed about. In fact, only 17% of Americans have financial advisers – “they don’t just have a crypto literacy problem — they have a financial literacy problem,” she added.
In the end, Coley added that Bitcoin has come a long way, presenting a unique way for Americans to buy crypto with a debit card.
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