A report on the state of Bitcoin and cryptocurrency in Australia published in August by Finder suggests that 56% of Australians believe Elon Musk invented Bitcoin. Finder, who conducted the study, called these beliefs “incorrect.”
The report explains that Bitcoin was actually created by an anonymous person or a small group of people named Satoshi Nakamoto, as most Bitcoiners know. Apparently, it’s not that Australians believe Elon was Satoshi, but that they believe Elon simply “invented” Bitcoin.
While it is absurd to think that Elon invented Bitcoin, it is understandable that when he is pressured to name a creator, or if Elon’s name ran on a list of candidates, he would stand out in the mind of an average Australian, as also indicated in the report. that more than half of Australians receive their news from social media platforms where fiduciary figures like Elon have excessive reach in proportion to their understanding of Bitcoin. While Elon has a very rudimentary understanding of Bitcoin, he does enjoy massive follow-up on Twitter and his Twitter antics are often correlated with temporary market movements.
According to Finder, which is Australia’s largest comparison website, 9% of Australian Bitcoin itself. It is not clear what the definition of “property” is in this case. It is important to note that many Bitcoiners would not consider the mere exposure to Bitcoin prices through platforms like Robinhood and Venmo to be real property of Bitcoin. Even more Bitcoin maximalists would argue that the currencies that remain in any exchange, the currencies that are not kept by themselves are nothing more than a debt and do not qualify as Bitcoin owners. Finder, however, did not make this distinction in his studies.
The Finder study also suggests that 35% of Australians believe that “Bitcoin will eventually outperform fiat” or be traded more widely than it is. Among Generation Z, Finder showed that 52% shared this prediction. Many bitcoins around the world share the belief that the strong value deposit will absorb the monetary energy of all the assets that people use to store their wealth as protection against fiat inflation.
Half of the participants indicated that they believed Bitcoin to be a “legitimate investment.” This was consistent with the study’s finding that 1 in 3 Australians have not bought Bitcoin because they prefer to store their money in stocks or savings accounts.
“Over the last three years, Bitcoin has been growing at a faster rate than ownership. If the last three years of growth continue indefinitely, a Bitcoin would be worth more than the average Australian house in 2045, ”Finder reported.
Finder’s study methodology is to track consumer sentiment through a set of surveys of just over 1,000 Australians. The Finder expert group predicted that the price of Bitcoin will exceed $ 300,000 (US) by 2025. More than half of the Finder expert group predicts that Bitcoin will replace the fiat currency and become the dominant form of global funding in 2050.