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Analysis of Bitcoin holders in the United States: Predominantly young male demographic with weak political influence.
Research on the Portrait of Bitcoin Holders in the United States: A Deep Analysis of Population, Politics, and Morality
Recently, a research report on Bitcoin holders in the United States has attracted widespread attention. The report analyzes the adoption of Bitcoin in the U.S. from three dimensions: demographic characteristics, political inclination, and moral foundation, aiming to explore other factors that may influence Bitcoin holding and attitudes beyond standard demographic data.
Main Findings
Younger males are more likely to hold Bitcoin: Bitcoin holders are typically younger and predominantly male, but in terms of race, ethnicity, income, education, and financial literacy, they are similar to the overall U.S. population.
Political factors are unrelated to Bitcoin holdings: Although there are significant differences in the attitudes of different political parties towards Bitcoin, research results indicate that there is no significant relationship between Bitcoin holdings and political inclination. The number of Bitcoin holders across different political backgrounds is basically the same.
The Impact of Values on Bitcoin Holding: The study used moral foundation theory to analyze the values and identity of Bitcoin holders. The results indicate that there is no significant correlation between Bitcoin holdings and specific moral foundations. In contrast, understanding the concept of Bitcoin, recognizing its protocols and assets, and the moral perception of Bitcoin have a greater influence on holding decisions.
Research Background
Although Bitcoin is well-known, detailed information about its holders is still limited. About 95% of Americans are familiar with the concept of Bitcoin, and approximately one-seventh of Americans currently own Bitcoin, but specific data is still scarce.
Although there have been similar studies in the past, they often have limitations such as small sample sizes, overly broad research scopes, or focusing only on a few indicators. Most studies discuss cryptocurrencies as a whole rather than focusing specifically on Bitcoin. Therefore, this research particularly focuses on Bitcoin and limits its scope to the United States.
The research team collaborated with professional institutions to survey 3,538 adult Americans, collecting demographic information, ethical tendencies, and attitudes towards Bitcoin from the respondents. Data collection was conducted in two phases: an initial sample of 3,022 respondents was gathered in November 2023; an additional 516 respondents were added in March 2024, focusing on the impact of Bitcoin ETFs on public perception.
Demographic Characteristics Analysis
Research has found that the group of Bitcoin holders in the United States exhibits diverse characteristics. There are no significant differences between Bitcoin holders and non-holders in terms of race, ethnicity, religion, marital status, income, education level, or financial literacy. However, Bitcoin holders show clear differences in age and gender: they tend to be younger and more male.
It is worth noting that this phenomenon of gender imbalance is not very pronounced in international samples, mainly standing out in studies conducted in the United States.
The Impact of Political Inclinations on Bitcoin Holdings
From a political perspective, there is no significant difference between Bitcoin holders and non-holders. Although Bitcoin has faced criticism from various political factions since its inception, it has particularly been under attack from the political left in recent years, while its staunchest supporters tend to be Republicans and libertarians. However, research shows that the political distribution of Bitcoin holders is very similar to that of non-holders, with most people concentrated in the middle of the political spectrum.
Compared to non-holders, Bitcoin holders are more likely to see themselves as being in extreme positions, specifically with more people considering themselves to be very liberal or very conservative. However, overall, the political distribution of Bitcoin holders does not differ significantly from the general U.S. population. This suggests that Bitcoin ownership does not have a direct relationship with political factors.
The Connection Between Moral Foundations and Bitcoin Holders
The study used moral foundation theory to explore the moral tendencies of Bitcoin holders. The results showed that Bitcoin holders exhibit unique characteristics: they are more concerned with cultural freedom and equality; they are comparable to conservatives in terms of sanctity and loyalty, comparable to liberals in terms of care, while being positioned between liberals and conservatives in terms of economic freedom and authoritarianism.
This indicates that Bitcoin holders have a unique diversity and complexity in their moral orientation, which does not completely align with traditional liberal or conservative classifications.
Key Factors Affecting Bitcoin Holders
Research has found that four key cognitive factors significantly influence whether a person is a Bitcoin holder:
Bitcoin holders generally have more confidence in its technology and believe that Bitcoin is morally positive. In contrast, non-holders exhibit a distrustful or neutral attitude. These cognitive factors are key in determining whether to hold Bitcoin.
Conclusion
Research shows that the ownership of Bitcoin is not related to specific social or political identities, but closely related to an individual's level of knowledge and understanding of Bitcoin. Bitcoin holders are often those who have a deep understanding of technology, believe it has practical uses, is trustworthy, and is morally acceptable.
This means that the adoption of Bitcoin is not limited to a specific political faction or social group, but is driven by individuals' understanding of and acceptance of the technology. The future development potential of Bitcoin depends on the public's awareness of its value and uses, rather than political divisions.