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Bitcoin is the king of crypto brand awareness for Aussies: Report

Bitcoin (BTC) topped the crypto charts in a survey from the bottom. According to 2,000 Australians surveyed by the Independent Reserve Cryptocurrency Index (IRCI), Bitcoin is number one for brand recognition, ownership and overall sentiment.

In the report, while 92% of Australians have heard of cryptocurrencies, Bitcoin enjoys the highest levels of brand awareness. As a result, 90.80% of respondents have heard of Bitcoin.

Stephan Livera, a popular Bitcoin podcaster from Australia, shed light on the numbers. Livera told Cointelegraph, “Bitcoin continues to grow in brand awareness because it was first and because it was really the zero to one moment that is similar to the discovery of fire or the invention of the printing press.”

“Bitcoin also has the strongest community of builders and educators, so it holds up over market cycles.”

Bitcoin’s recognition is swelling in Australia despite the price falling into the teens at the start of November. Over the long term, Australians are bullish. The report shares that Australia’s population of nearly 26 million people is “committed to crypto in the longer term, with overall acceptance and long-term confidence in the sector’s future remaining high.”

Indeed, most of those surveyed who own crypto believe that the price of Bitcoin will be above $30,000 by 2030; almost double the prices of today. Even for those surveyed who do not own crypto and are therefore less biased that their investments will increase in value, 43% of those surveyed believe the price per BTC will exceed $30,000.

Independent Reserve CEO Adrian Przelozny explained: “Despite this volatility, the 2022 IRCI data clearly shows that Australians’ interest and investment in crypto remains high and continues to gain momentum.”

In the short term, it’s the youngest demographic that is dropping crypto-assets the fastest; dropped from 33.3% to 55.7% in the 18-24 age group. Additionally, crypto ownership has marginally decreased from 28.8% to 25.6% over the past year.

Livera explained the drop: “As for why ‘crypto’ and Bitcoin ownership rates are falling in Australia in 2022, I put it down to the usual cyclical growth and decline of price action.”

“Ironically, it is now in the bear market that newer speculators are learning more about the real ethos of Bitcoin and becoming HODLers and stackers creating the basis for the next cycle.”

However, as Livera points out, it is unclear which assets the groups no longer hold. The report bundles Bitcoin with other cryptocurrencies, such as Solana (SOL) or Ethereum (ETH), on broader questions. For example, it asks: “Will crypto be widely accepted by people and businesses,” despite the fact that Ethereum’s promise was not to become a currency, but a way to monetize the platform, while Solana intended to be a home for decentralized applications or DApps.

Related: Aussies warned to avoid crypto paper wallets they find on the street

Despite the youngest age group falling in love with crypto, cryptocurrency awareness among Australians overall increased slightly to 92%, up from 91.2% last year. And with 90.8% of respondents familiar with Bitcoin, it continues to be the most popular crypto.

Curiously, awareness of Bitcoin among the over 65s is soaring – up to 93.5% levels, suggesting boomers are warming up to Bitcoin.

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