Why only 6.2 percent of American citizens own Bitcoin?

[bounceback]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

maybe because there are several factors that make some Americans not interested in adopting bitcoin, maybe it's because their country's government doesn't like bitcoin and prohibits cryptocurrency in that country, and maybe they aren't interested in bitcoin because for them bitcoin can't be used to meet daily needs day is not like fiat money that we can use anytime and anywhere, but in my opinion 6.2% is included in a decent amount compared to other countries.

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[CryptoBry]

...only 6.2% of a highly developed country like the US of America own Bitcoin, which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

I am not complaining with that number because that can mean millions too. However, after 11 years and after all the hypes and FUDs surrounding Bitcoin, maybe you expect that at least a quarter of the populations should have holding any amount of Bitcoin. Well, Bitcoin is not that really a very convenient currency unlike the fiat one which we can easily just transfer from one hand to another. Definitely, with Bitcoin there is that learning curve plus if one is not careful there is that risk of losing the coin by any means not to mention the many scammers and hackers just lurking anywhere online.

On the other hand, the very reasons why we have Bitcoin in the 2008-2009 financial crisis have now faded, maybe we should be waiting for another recession for Bitcoin to be a hot and on focused digital asset again. At the height of Bitcoin's popularity in 2017, speculations were the reason why Bitcoin was pushed upward and right now we don't have that kind of level of frenzied activities yet. Plus, there is no marketing campaign done for Bitcoin and in the global marketplace where brands are vying for attention, an ongoing and fully-funded advertising campaign can be needed, sadly here we don't have that privilege.

[Eugenar]

The percentage of 6.2% for Americans who own bitcoin is a pretty good percentage, compared to other countries that have
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.

But the fact that there are many individual in the US that accumulated much volume of the cryptocurrencies such as Roger Ver, Garvin Andresen, and Barry Silbert, they contribute so much in the volume and market cap of bitcoin. Thus, disregarding the small investors they have in their country.

With regards to the 10 year period, for me, the adoption of cryptocurrency worldwide is increasing exponentially. So it will take only up to 3 years for the investors to double.

[barabarian1]

I have read not 6.2% but as many as 8% of all Americans who already have Bitcoin. in my opinion the amount of 8% is quite a lot. and maybe 8% are represented by millennials.
and in my opinion it is indeed millennial generation that can use and utilize bitcoin well. but I am optimistic that the United States is a country that is friendly to bitcoin because a lot of crypto and exchanges come from America. so I'm sure the number of bitcoin users in America will always increase.

[Eclipse26]

Bitcoin is more profitable for developing countries. That's why I think there are more people in those countries who own bitcoin. Maybe why we believe that they should be leading in crypto is because they've already developed and advanced in technology compared to other countries but in reality, people in third world country needs it more for income and profit that's why they're so into bitcoin and crypto.
Bitcoin still needs more recognition. And the government stand on crypto affects a lot on countries adoption. Even if it's a developed country but the government is against it, don't expect mass adoption.

[matchi2011]

That percentage is enough considering the actual populations of the country. More of those people who owns bitcoins are those who are open for
advance technology, people that gain enough information about this system and willing to embrace and adopt. Not only for investment but also
to understand how blockchain system will work and help individually. It's not all being represented by numbers but also by the hold figures.

[Kakmakr]

The reason for this is quite simple, because most of the American citizens are so deep in debt, that it is impossible for them to have disposable income to invest in things like Bitcoin. A lot of the people who are invested, bought those bitcoins on credit and they hope and pray that the price would go up, so that they would be in a better position to pay back the debt.

" As of October 2018, foreigners owned $6.2 trillion of U.S. debt, or approximately 39 percent of the debt held by the public of $16.1 trillion and 28 percent of the total debt of $21.8 trillion. " - Source : https://en.m.wikipedia.org/wiki/National_debt_of_the_United_States

[Wind_FURY]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

Then just 6.2% of Americans would be in the next generation of people who could say, "We are the new wealthy elite, ladies and gentlemen".

 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Link that goes to a shitcoin news site?

[jootn2kx]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

It is still a bit complicated for newcomers to figure it out easily, there are no regulations, Trump himself bashed it, thus becoming the first US President to even acknowledge the existence of cryptocurrencies... Not to mention that, for all the use cases BTC already has, it's still not enough for mass adoption. Things will change over time, but we need to be patient and tenacious.

[alyssa85]

...only 6.2% of a highly developed country like the US of America own Bitcoin, which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

I thought people were relying on the unstable parts of the world for mass adoption.

There isn't any need for Americans to adopt bitcoin - they still trust the dollar (which has been gaining value against other fiat currencies since 2014), they have a solid economy and low unemployment. And their banking system is sound (it got fixed properly after the 2008 crash).

Adoption is more likely to happen in Europe due to problems with their banking system and the potential break-up of the euro. (If the euro looks like breaking up, watch for money to flow into dollars, yen, pounds, swiss franc and yes, bitcoin).

[omfg.xekcep]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Hmmm, I am not surprised, moreover I even thought that the total amount much less than 5% so everything is not so bad. I am absolutely unfazed because I consider it is an excellent situation when every the 20th person has bitcoin(s). Undoubtedly much less people invest in precious metals, in % I mean. Step by step bitcoin goes towards to success conquering hearts and minds of million people and I am sure that it is time to enter bitcoin and other crypto technologies in our life.

[MURONDI]

although bitcoin is the main crypto, but it seems like people prefer to hold other alternative crypto, I myself am holding altcoin more often than bitcoin, like in China more people use eos than bitcoin, I think Americans prefer holding altcoin to bitcoin.

[Shenzou]

I fell like this kind of statistic comes from the fact that bitcoin and other crypto are used mostly by the undeveloped countries, where people are constantly struggling to find ways and things to earn money through the internet because their jobs are not paying as much, People in developed countries don't go out of their way to find a way to make money because the average salary is different that is why in my opinion the percentage of the ones that are involved in it are either big investors or ones that actually support the cause and really want to change the state of currencies.

[teosanru]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Obviously because of the complications involve with BTC. Not everyone around the world want to remain anonymous in their ventures and realize that banking are scam. They feel banks and markets are perfect and swift. So they use banks for quicker remittances. Moreover even out of the 6.2% I think only 20% might only be using bitcoin for transactions everyday rest of them might only be using it for store of Value. I think problem lies with the transaction times and costs. Maybe Lightning Network could provide a solution for this problem and payments could become swift and convenient.

[milesfull]

Majority of Americans still dont understand what bitcoin is. 6 percent is already not so bad

[Broly46]

That’s a lot for high population country like United State, a 6.2% equalivalent to 15 millions people, I don’t think many no coiner know nothing about bitcoin, they may be too lazy to want to learn more about it, most of them have too much commitment in their life, they need to go work work early in the morning, take care of family on the night, I think one hour of free time is too luxury to them, I’m looking at all my peer, in comparison none of them seem to be interest in bitcoin when I told them about it, I think I’m the only one who has bitcoin, which make me feel awkward among them, for them working is more important than anything else, their life is about work! Work! And more work!

[trumpman]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Assuming that the 6.2 % figure is correct, which I will take with a grain of salt since I don't see a published scientific paper, I will say the numbers look pretty good!

After all, bitcoin and cryptos are still too complex for the average joe and let's be honest... pretty useless, at least from their perspective! What I really wonder though is how many people out of that 6.2 % are actually into because of the technology and usecases and how many for the moons and lambos  

[chaoscoinz]

I really don't think people are aware it exists. Sure you have quite a few people that have heard of Bitcoin but many have never really put much thought into what it exactly is or how it exactly works. Crypto-currency is well known bought not well adopted. Until their is an easy to explain concept, the understanding of  Blockchain & Bitcoin will float above most peoples heads. It really isn't taught in school unless you find a specific course related to cryptocurrency and Blockchain. Try explaining Bitcoin and Block chain to average JOe in society or the elderly or disfranchised. Just try and explain it to my grand mother or nieces and nephews ( ), I promise, you wouldn't get far.

[merchantofzeny]

Likely it's a convenience issue. Americans love their credit cards and loans! I doubt they haven't heard it yet, most major network has made at least one story about Bitcoin.

[Reid]

At first thought, I didn't think many of them really owns bitcoin.
Why?
1. They want ease with their everyday necessities and that means payments. That is why credit cards are the mostly used by them.
2. Their president is against it. Although they are now divided, the guy is a businessman which means it could be reliable. (although not)
3. They already know about gold which is more trusted to them since it was discovered. They would rather pick something into which they could hold on to physically than something which is not.

There are more answers to that why question but I am getting tired.  I guess to summarize it all, they are pessimistic about the bitcoin technology.