Bitcoin Will Eventually Be Transacted More Than Fiat Currency, Say 35% of Australians Surveyed

A new survey finds that 35% of Australians believe bitcoin will eventually be transacted more than fiat currency. Almost the same number of respondents believe that bitcoin “has a significant role to play in the future of currency.”

Comparison platform Finder published Tuesday the results of a cryptocurrency survey, which it described as a “nationally representative survey of 1,012 Australians.”

The respondents were asked whether they agreed with various statements about bitcoin. They must either agree or disagree.

One of the statements was “Bitcoin will eventually be transacted more widely than traditional money.” The company commented:

The research revealed that 1 in 3 Australians (35%) believe bitcoin will eventually be transacted more than fiat (traditional) currency.

Kate Browne, a personal finance expert at Finder, opined: “While only 17% of Aussies own cryptocurrency, twice that amount believe it has a significant role to play in the future of currency.”

Overall, Gen Z (52%) were the most likely to believe bitcoin will be more popular than centralized currency, followed by millennials (45%) and Gen X (30%). Only 17% of baby boomers agreed.

Respondents were also asked whether they agreed that “Bitcoin is a legitimate investment.” 50% said yes. Meanwhile, 63% believed that “bitcoin is purely speculative.”

Another statement was “Bitcoin is a bubble that will eventually burst,” to which 73% agreed.

The respondents were also asked if they have an app that lets them trade cryptocurrency. 15% said yes while 73% said that they did not have a crypto trading app and did not plan to get one. A further 12% said they did not have a crypto trading app but intended to get one.

Do you think bitcoin will eventually be more transacted than fiat currencies? Let us know in the comments section below.