{"id":238421,"date":"2022-06-02T06:30:09","date_gmt":"2022-06-02T01:00:09","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=238421"},"modified":"2022-06-01T16:49:16","modified_gmt":"2022-06-01T11:19:16","slug":"explaining-why-people-are-buying-and-not-buying-bitcoin-btc","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\/","title":{"rendered":"Explaining why people are buying and NOT buying Bitcoin [BTC]"},"content":{"rendered":"<p>Bitcoin and cryptocurrencies have been at the center of financial markets in 2022. Extreme volatile trends coupled with aggressive development in the Web 3 space have caught the eyes of many. To further study these trends, Block Inc. recently published a report detailing a survey of 9,500 people across major continents.<\/p>\n<p>Block Inc. partnered with Wakefield Research to publish the report titled &#8220;<a href=\"https:\/\/block.xyz\/2022\/btc-report.pdf\">Bitcoin: Knowledge and Perception<\/a>.&#8221; The report talks about the retail trends of Bitcoin perception in 14 countries across the world. According to the same, most people consider Bitcoin as a means for payment, among other uses.<\/p>\n<h4>Why are people buying and NOT buying Bitcoin?<\/h4>\n<p>The most common reason for buying Bitcoin across all income groups is simply to <em>make money. <\/em>However, the study has helped understand other trends in Bitcoin utility among individuals. People with above-average incomes are likely to purchase Bitcoin with cash excesses since they use it for diversification and protection from inflation.<\/p>\n<p>On the other hand, lower income groups usually buy Bitcoin for sending money and purchasing goods and services. Hence, they recognize the utility of Bitcoin more than other high-income groups.<\/p>\n<figure id=\"attachment_238423\" aria-describedby=\"caption-attachment-238423\" style=\"width: 783px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.12.13-PM.png\"><img decoding=\"async\" class=\"wp-image-238423 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.12.13-PM.png\" alt=\"\" width=\"783\" height=\"582\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.12.13-PM.png 783w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.12.13-PM-300x223.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.12.13-PM-768x571.png 768w\" sizes=\"(max-width: 783px) 100vw, 783px\" \/><\/a><figcaption id=\"caption-attachment-238423\" class=\"wp-caption-text\">Source: Bitcoin:Knowledge and Perception<\/figcaption><\/figure>\n<p>Despite the many advantages being offered, people still have reservations against owning Bitcoin. A lack of Bitcoin knowledge is the most common reason why people don\u2019t buy it.<\/p>\n<p>It is followed by cybersecurity, price volatility, and regulatory uncertainties as the primary reasons.<\/p>\n<figure id=\"attachment_238425\" aria-describedby=\"caption-attachment-238425\" style=\"width: 810px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.22.21-PM.png\"><img decoding=\"async\" class=\"wp-image-238425 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.22.21-PM.png\" alt=\"\" width=\"810\" height=\"597\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.22.21-PM.png 810w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.22.21-PM-300x221.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.22.21-PM-768x566.png 768w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/a><figcaption id=\"caption-attachment-238425\" class=\"wp-caption-text\">Source: Bitcoin:Knowledge and Perception<\/figcaption><\/figure>\n<h4>Dissolving the gender divide<\/h4>\n<p>As per the report, there is no gender divide between people that own Bitcoin and see themselves as experts. Women, on the other hand, tend to buy Bitcoin for its utilities, when compared to men.<\/p>\n<figure id=\"attachment_238424\" aria-describedby=\"caption-attachment-238424\" style=\"width: 782px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.18.44-PM.png\"><img decoding=\"async\" class=\"wp-image-238424 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.18.44-PM.png\" alt=\"\" width=\"782\" height=\"630\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.18.44-PM.png 782w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.18.44-PM-300x242.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.18.44-PM-768x619.png 768w\" sizes=\"(max-width: 782px) 100vw, 782px\" \/><\/a><figcaption id=\"caption-attachment-238424\" class=\"wp-caption-text\">Source: Bitcoin:Knowledge and Perception<\/figcaption><\/figure>\n<p>The report went on to add,<\/p>\n<blockquote><p>&#8220;47% of women see the prospect of buying goods and services as a good reason to buy bitcoin, compared with just 34% of men. Similarly, 47% of women see the prospect of using bitcoin to send money to others as a good reason to buy bitcoin, compared with 27% of men.&#8221;<\/p><\/blockquote>\n<h4>Will it go all the way?<\/h4>\n<p>One peculiar observation made was with respect to the knowledge and optimism associated with Bitcoin\u2019s future. The more people feel they know about cryptocurrency, the more optimistic they are about its future.<\/p>\n<p>Additionally, millennials tend to be the most optimistic about Bitcoin\u2019s future with baby-boomers being the least. This finding, as expected, seemed to be in line with previous studies.<\/p>\n<figure id=\"attachment_238426\" aria-describedby=\"caption-attachment-238426\" style=\"width: 762px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.27.26-PM.png\"><img decoding=\"async\" class=\"wp-image-238426 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.27.26-PM.png\" alt=\"\" width=\"762\" height=\"576\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.27.26-PM.png 762w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Screenshot-2022-06-01-at-1.27.26-PM-300x227.png 300w\" sizes=\"(max-width: 762px) 100vw, 762px\" \/><\/a><figcaption id=\"caption-attachment-238426\" class=\"wp-caption-text\">Source: Bitcoin: Knowledge and Perception<\/figcaption><\/figure>\n<h4>What\u2019s the big deal with crypto right now?<\/h4>\n<p>Worth pointing out, however, that in mainstream circles, the opinion on Bitcoin and cryptos remains as divided as ever. A recent Reuters <a href=\"https:\/\/www.thomsonreuters.com\/en\/reports\/cryptos-on-the-rise-2022.html\">report<\/a>, for instance, underlined &#8220;concerns&#8221; associated with cryptocurrencies were highlighted.<\/p>\n<p>As per the same, the focus is twofold: cryptos\u2019 possible impact on financial stability and its need to protect vulnerable customers.<\/p>\n<p>Needless to say, while retail investors might be optimistic about the asset class, regulators aren&#8217;t so. At least, not yet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and cryptocurrencies have been at the center of financial markets in 2022. Extreme volatile trends coupled with aggressive development in the Web 3 space have caught the eyes of many. To further study these trends, Block Inc. recently published a report detailing a survey of 9,500 people across major continents. Block Inc. partnered with<a href=\"https:\/\/ambcrypto.com\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\/\">Continue reading <span class=\"sr-only\">&#8220;Explaining why people are buying and NOT buying Bitcoin [BTC]&#8221;<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":238422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-238421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Explaining why people are buying and NOT buying Bitcoin [BTC] - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Block Inc. partnered with Wakefield Research to publish the report titled &quot;Bitcoin: Knowledge and Perception.&quot; The report talks...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Explaining why people are buying and NOT buying Bitcoin [BTC] - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Bitcoin and cryptocurrencies have been at the center of financial markets in 2022. Extreme volatile trends coupled with aggressive development in the Web\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T01:00:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/michael-fortsch-8TEpTK7363I-unsplash-2-e1654077536137.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"771\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kanav Jain\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/kanavjain101\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kanav Jain\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/\"},\"author\":{\"name\":\"Kanav Jain\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/5d5c4adae93dab23234d98e86a1169ae\"},\"headline\":\"Explaining why people are buying and NOT buying Bitcoin [BTC]\",\"datePublished\":\"2022-06-02T01:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/\"},\"wordCount\":527,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/michael-fortsch-8TEpTK7363I-unsplash-2-e1654077536137.jpg\",\"articleSection\":[\"Bitcoin\",\"BTC Trading View\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/explaining-why-people-are-buying-and-not-buying-bitcoin-btc\\\/\",\"name\":\"Explaining why people are buying and NOT buying Bitcoin [BTC] - 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