Bank of Canada reports 85% Bitcoin awareness in country

Bitcoin awareness in Canada has risen to 85 per cent according to a new study – the Bitcoin Omnibus Survey – conducted by the Bank of Canada.

The figure marks a sharp increase when compared to results from 2016, up by 21 per cent from 64 per cent, which reflects the larger awareness of Bitcoin and cryptocurrencies across the globe.

The survey was conducted in an effort to assess the impact of adoption on Canada’s financial system, and found that awareness was most prevalent among the richest residents earning more than $70,000 annually.

Notably, awareness among female respondents shot to 80 per cent from 50 per cent the previous year, even if men still outstripped that with 91 per cent (up from 75 per cent).

All this said, awareness doesn’t equal ownership, and only five per cent of the Canadian population actually own the digital coin. While this is an increase from 2.9 per cent the previous year, it is still very low.

Expectedly, 18-24-year-olds were the most likely to invest, hitting 14 per cent, and the 45-54 per cent demographic’s ownership figure rose from 0.9 per cent to 3.5 per cent.