Bitcoin ownership thrives where banking systems fail

The survey of 25,880 participants suggests that in many developing economies, Bitcoin functions as a pragmatic workaround for those battling inflation and strict capital controls. In Venezuela, where residents frequently navigate an informal dollar market, respondents described the cryptocurrency as a faster and less risky alternative to the bolívar. Similar trends emerged in Nigeria, where users leverage the digital asset to bypass regional payment hurdles.

However, high ownership figures in El Salvador—which reached 72%—often mask a decline in daily utility. Despite the government’s 2021 push to make Bitcoin legal tender, local university studies indicate that transaction frequency has dropped significantly since the initial rollout. Many respondents classified as owners likely acquired the asset via government incentives rather than through sustained commercial use.

Technical literacy remains a persistent hurdle globally. Only 42% of respondents recognized that Bitcoin’s supply is capped at 21 million coins. This knowledge gap is particularly visible in the United States, where 24% of participants reported owning Bitcoin, yet only 6% understood its issuance limit. Across the 25 surveyed markets, distrust in government and traditional banking institutions emerged as the strongest predictors of adoption, positioning Bitcoin as a tool of financial necessity rather than a speculative investment.