Most millennials don't plan to use Bitcoin

Bitcoin is still a novelty and hasn’t achieved widespread adoption as a currency, but some believe Millennials will be more open to using it. A new survey from Goldman Sachs Global Investment Research indicates that Millennials have mixed feelings about Bitcoin so far.

  • A slight majority — 51% — haven’t used Bitcoin, and don’t plan to use it in the future.
  • However, a solid 27% have used Bitcoin before.Twenty-two per cent are active users, and another 5% have tried it before but don’t plan to adopt it again.
  • The final chunk — 22% — haven’t used it but might in the future.

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BII Most US Millennials Dont Plan To Use Bitcoin

The high percentage of Millennials in the survey that say they use Bitcoin deserves some scepticism considering that there are only about 6.5 million Bitcoin wallets in the world — the survey implies that some 16 million US Millennials have used Bitcoin.

Bitcoin activity is relatively small globally. Only 4 to 8% of Bitcoin wallets contain bitcoins — the rest are empty. And global daily Bitcoin-based retail sales are an estimated $US2.3 million, which would represent just .015% of total daily retail sales in the US ($US15 billion), according to data acquired by Reuters.

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