Satoshi Nakamoto created Bitcoin because he understood the inequality and problems of the global financial system before anyone else. It looks like things are coming to a full circle in 2023. As the banking crisis hit the US, cryptocurrencies are already getting a lot of praise and adoption. And now a recent survey shows that almost 80% of Americans believe that the US financial system supports inequality. They believe that it favours individuals with “powerful interests.”
The world is starting to realise it’s all a hoax!
Coinbase conducted a survey in February where they talked with 2,000 Americans. 1600 or 80% of the respondents, believed that the US financial system is not neutral as it favours the ones in power. 2/3rd of the participants also think that it’s time to have a major change or completely transform the financial system. The survey also showed that the belief in crypto’s future is starting to rise.
Despite the turbulent times in 2022, when the markets lost more than 66% of their value, crypto ownership in the US has not declined. The survey shows that 20% of participants still own crypto. And 3/4th of the investors believe that crypto and blockchain are the future.
This also shows that the FUD in the crypto space and negative PR isn’t affecting investors. They are holding through the tough times and buying the dips. This also led to Michael Burry admitting that his sell call in Feb was a mistake.
The millennials and Gen Z are the most into crypto
Just like the adoption of any new technology, the younger generation is always the first and most proactive one to check it out. Even in this case, 36% of Gen Z and 30% of millennials are invested in crypto. Another data that shows how desperately people want to escape the current financial system, is the stats of minority groups owning crypto. More than 60% of people also believe that the best days for the crypto market are in the future. There is also the belief that the next bull run will propel adoption to new heights. And countries like China that have been against crypto will take a more favourable approach.
What are your thoughts, as most Americans believe that the US financial system supports inequality? And do you think crypto can change this? Let us know in the comments below. And if you found our content informative, share it with your family and friends.
Also Read: ELIZABETH WARREN IS PUSHING THE SENATE TO BAN CRYPTO WALLETS WITH A NEW AML ACT.