Tuesday, June 30, 2015

Most Millennials Don't Plan to Use Bitcoin

A new survey from Goldman Sachs Global Investment Research indicates that Millennials have mixed feelings about Bitcoin so far. 
  • A slight majority – 51% – haven't used Bitcoin, and don't plan to use it in the future. 
  • However 27% have used Bitcoin before.Twenty-two percent are active users, and another 5% have tried it before but don't plan to adopt it again. 
  • The final chunk – 22% – haven't used it but might in the future. 


The high percentage of Millennials in the survey that say they use Bitcoin deserves some skepticism considering that there are only about 6.5 million Bitcoin wallets in the world — the survey implies that some 16 million US Millennials have used Bitcoin. 
Bitcoin activity is relatively small globally. Only 4 to 8% of Bitcoin wallets contain bitcoins – the rest are empty. And global daily Bitcoin-based retail sales are an estimated $2.3 million, which would represent just .015% of total daily retail sales in the US ($15 billion), according to data acquired by Reuters.

1 comment:

  1. They probably don't plan to use silver or gold, either.

    But, once the dollar collapses, they will be big fans of silver, gold, and Bitcoin.

    The dollar will never collapse? We will see. I see lots and lots of workarounds -- e.g., swap agreements between European countries with the Chinese and Russians, oil traded in local currencies -- of the dollar popping up all the time. I wonder what these folks are anticipating?