The Central Bank of Canada published the results of a study of the popularity of Bitcoin in the country, in which 2,500 Canadians took part. The Bitcoin Omnibus Survey was conducted at the end of 2017. 85% of Canada’s population is aware of Bitcoin; at the end of 2016 this indicator was 64%. At the same time, the number of users increased from 2.9% to 5%.
“In the province of Quebec, awareness about Bitcoin has grown more significantly, from 49% in 2016 to 77% in 2017. Among women, 80% know what is cryptocurrency, which is 26% higher than last year. For example, in 2016 75% of men and 54% of women knew what is bitcoin and in 2017 the ratio became 91% against 80%”, the document says.
In 2016 the main objective (39%) of the purchase of bitcoin was the payment of any goods. In 2017, more than half of users (58%) of cryptocurrencies bought it for investment purposes, and only 10% of holders used bitcoin for payments. It is noteworthy that the number of people who believe that bitcoin is a “state” asset has decreased by 40%.
“Actually, there is one more thing keeping me awake at night, which perhaps I should mention, and that is all the noise I keep hearing about cryptocurrencies, especially Bitcoin. There is a lot of hype around Bitcoin, and markets are evolv- ing quickly to allow wider access, including to retail investors. So perhaps you will allow me to make a couple of points. To begin with basics, the term ‘cryp- tocurrency’ is a misnomer—‘crypto,’ yes, but ‘currency,’ no. For something to be considered a currency, it must act as a reliable store of value, and you should be able to spend it easily. These instruments possess neither of these characteristics, so they do not constitute ‘money.’ ” Governor Stephen S. Poloz