Australians’ knowledge of crypto needs some improvement, with over 50% of them thinking that Elon Musk created Bitcoin (BTC), based on a new survey. More than 40% of the respondents were quite unaware that bitcoin had a limited supply.
Australia’s most visited comparison website, Finder surveyed 1,004 Australians to determine what they know about cryptocurrency. The Australian reported on May 19, 2021, that 56% of Australians are not aware of the mysterious Bitcoin creator Satoshi Nakamoto, according to the survey.
Most of those who participated in the survey think that the Tesla and SpaceX CEO is the founder of the biggest crypto in the world. A considerable number of the respondents also never knew that the BTC supply is limited to 21 million coins. 44% of them thought that Bitcoin has unlimited supply as is the case with fiat money.
This survey also discovered that most Australians are in crypto or willing to invest in the sector, with 25% of the respondents owning or planning to own some cryptocurrency by the end of 2021. Despite the willingness to acquire crypto, nearly 20% of Australians do not know how to buy it, based on this Finder survey.
The new study comes as Finder plans to launch a bitcoin trading service through its app. Fred Schebesta, the Finder co-founder and CEO, said that the new service will enable Australians to move into crypto. He said:
“We‘ve removed all the complexity and with the Finder app, you can buy a bitcoin in three minutes. You sign up, enter your details, deposit your money, that’s it.”
Schebesta also projected that the Bitcoin price will reach $250,000 by 2021. He mentioned:
“The current dip is just a short-term thing. The price of Bitcoin has moved because China said something or Elon said something or another government said something.”
The cryptocurrency markets imploded in the past week after Musk said that Tesla was suspending bitcoin payments for the purchase of its electric vehicles. The market plummeted further when the CEO said that Tesla might offload bitcoin from its balance sheet in the second quarter of this year.