September 7, 2022 – Today, Pollara Strategic Insights released a new study focussed on Canadians’ engagement, understanding, and views on Bitcoin and other cryptocurrencies.
Nearly all Canadians have heard about Bitcoin, but it remains a mystery to most, as only one-in-four (26%) Canadians report ownership and/or sufficient familiarity that they could explain it to someone else.
Less than one-in-ten (8%) Canadians report ownership of Bitcoin and/or other cryptocurrencies, with ownership overwhelmingly concentrated among young men. Politically speaking, PPC and Conservative Voters are more likely to report ownership and interest in investing in Bitcoin and/or other cryptocurrencies.
Amongst those who own Bitcoin or have some understanding of it, almost nine-in-ten (88%) view it as a risky investment and more than three-quarters (77%) report that it has declined in value.
Amongst those who own Bitcoin or have some understanding of it, only one-in-ten (11%) think it is a good way to opt out of inflation, and half (48%) feel that most people who recommend investing in Bitcoin are scam artists. PPC Voters and young men are the most likely to feel that moving investments into Bitcoin are a good way to opt out of inflation.
For more detailed results, read our report.