Most Americans unfamiliar with and won’t use Bitcoin

BY Simone Pathe  February 5, 2014 at 12:56 PM EST
Infographic by TheStreet

Infographic by TheStreet

Even as the use and price of Bitcoin has increased, 76 percent of Americans are still unfamiliar with the digital currency and nearly 80 percent of consumers have never and would never consider using an alternative currency. That’s according to a nationwide survey from TheStreet.

Also noteworthy is the age breakdown of American public opinion of Bitcoin. Thirty-eight percent of Americans think that Bitcoin hurts the U.S. dollar. But when asked differently, broken down by age, it appears that younger folks have a much more positive view of the alternative currency. Among 18-24 year olds, 57 percent think Bitcoin helps the global economy compared to 14 percent of those over 65.

While 80 percent of Americans would prefer to have gold over Bitcoin, not surprisingly, the percentage of younger people who would rather own Bitcoin (15 percent) is higher than the percentage of older people who feel the same way (4 percent).

In October, Making Sense looked at the rise of Bitcoin’s mainstream appeal and who exactly is using the coin.