BTC ownership drops to insane lows in the U.K. for the people of retirement age according to the information that we have in our bitcoin latest news coming from the crypto blog Crypto Radar.
According to the survey as explained by Crypto Radar, only 5.3 percent of the 2,500 participants owned Bitcoin and out of this number, more than half say that they don’t plan on ever purchasing BTC. The survey also shows that the BTC ownership is at a level of high apathy in the UK with 67 percent of the participants claim that they don’t own or have any intention to own bitcoin at all. These numbers increase much higher if you take into consideration that male participants aged 65 years and above were the only ones participating in the survey.
The high bitcoin apathy among people of retirement age is not really new since we have seen it in multiple surveys before. The situation around Brexit may also see the retirees wanting to hedge their fortunes in assets that are deemed as less risky than cryptos. The high volatility in Bitcoin and the global negative-yielding debt is about $17 billion-plus there s an argument that BTC provides a hedge against the growing.
On the other hand, it seems that the reality flipped with a huge number of male respondents between 335 and 44 years of age who are keen on increasing their BTC ownership. By commenting on the results, Crypto Radar chief Amine Rahal explained:
‘’Regardless of its enormous volatility, Bitcoin is a very attractive asset class for those investors, especially younger investors, who are willing to ride the volatility to tremendous gains.’’
One very important results are that about 20 percent of the participants in the survey claimed not to know anything about Bitcoin. Another survey published by ING showed that more than a quarter of the UK residents believe that Bitcoin will eventually replace cash.
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Both Crypto Radar and ING did reveal an apparent increase in crypto education and this limited range of crypto awareness extends to young people who usually form the core of the global BTC adoption but the numbers are still relatively low.
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