A survey conducted by the Bank of Canada indicates that 58% of the Canadian citizens that own Bitcoin do so for investment purposes. The study was published on 23 July, based on Bitcoin practices in 2017.
The Bitcoin Omnibus Survey (BTCOS) was also conducted in 2016. At the time, it found the primary use of Bitcoin by Canadians as online transactions, indicating a changing trend.
Following the 58% of participants that responded they used Bitcoin predominantly as an investment tool, 12% claimed they purchased Bitcoin because their friends were also involved with the cryptocurrency. While this may not appear the most informed reason for entering the market, it does show the power of word of mouth at this time of Bitcoin’s relative infancy as information continues to spread on an international scale.
To read the full article go to: https://bitcoinnews.com/bank-of-canada-study-58-of-citizens-invested-in-bitcoin-are-hodling/