Are the Russians bearish on Bitcoin?

Shocking consumer behavior

Many people currently working in the cryptocurrency industry were not initially persuaded to invest in Bitcoin and other digital assets. Many others were not even aware of the existence of crypto assets. At that time, there was still a huge knowledge gap about digital assets. Additionally, tokens are almost never used in real-world transactions and activities.

However, the use and acceptance of crypto assets has exploded over the past few years. Today, many businesses, organizations, industries, and people accept crypto tokens as a form of payment and bill payment. Even now, several countries have legalized the use of digital coins like Bitcoin (BTC). It is shocking to see that the majority of people in some countries have not jumped on digital coins despite the widespread use of cryptocurrencies. For example, a recent survey in Russia reveals that the majority of its residents have yet to purchase cryptocurrencies. This implies that the adoption of cryptocurrencies is lagging behind in the country.

Thirst for Future Crypto Investments

Tangem, a Swiss manufacturer of cryptocurrency wallets, conducted a survey on the attitude of the Russian population towards cryptocurrencies. A total of 2,100 people took part in the survey, and 72% of them said they had never purchased crypto assets, including Bitcoin. This statistic shows that Russian cryptocurrency investors are a significant minority.

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According to the research, the general public still has a strong thirst for future investments in cryptocurrencies. Over the next six months, nearly 31% of participants said they would be interested in buying cryptocurrency tokens. While 30% said they had no intention of making future investments in cryptocurrency, more than 40% said they were still unclear on their position. The study also showed that 46% of respondents have a positive view of cryptocurrencies. However, 46% of respondents have a neutral attitude towards virtual assets, and 9% of them have an unfavorable opinion of cryptocurrencies.

The survey also highlighted the main advantage of owning the assets as the ability of cryptocurrency investments to generate income. According to the results, 44% of the participants supported this reason as their reason for investing in cryptocurrencies. Nevertheless, the main barrier to investing in digital assets was the lack of a physical foundation. This last explanation was given by 68% of respondents to explain why they did not use cryptocurrencies.

Ritika Sharma

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Are the Russians bearish on Bitcoin?


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