Sixty-one percent of the people surveyed in Argentina claimed to have a positive image of Bitcoin. Other better-known and used investment methods include the US dollar, Mercado Pago, and fixed terms.

When asked about Bitcoin and other cryptocurrencies, Argentines think of terms like these: future, currency, investment, virtuality, money, savings, and scam.

Consulting firm Opinaia and Grupo Muchnik recently surveyed 2,400 people in the South American country. The consultation also detailed that other words that respondents relate to Bitcoin are gain, Internet, doubt, and volatility.

The word cloud formed from the answers in the study Imaginary about cryptocurrencies in Argentina is consistent with the responses by the respondents. Sixty-one percent of the participants claimed to hold crypto assets in good esteem and ranked them as the fourth investment alternative.

In 2021, cryptocurrencies lagged behind other savings and investment alternatives with 32% of knowledge and 10% of actual use. The US dollar recorded 65% and 22% in those aspects, Mercado Pago 61% and 38%, and fixed terms in national currency 59% and 19%.

The above explains the emergence of terms like future, investment and savings in the responses of many respondents. However, other words that stand out related to security are a scam, doubt, and volatility.

A low percentage of the participants (12%) expressed a negative opinion about Bitcoin and other cryptocurrencies. However, 62% said they do not know or disagree with the phrase cryptocurrencies are safe and reliable.

Likewise, 30% of the respondents believe that it is better to save in US dollars than in cryptocurrencies. The same percentage leans toward using crypto assets instead of the US fiat currency as a savings method. Over the last year, the latter has had record inflation, which might reach a double-digit figure in 2022.

More Statistics on the View of Argentines about Bitcoin

Even though some of the above respondents are skeptical, 47% said they believe that cryptocurrencies are profitable and beneficial.

Almost half of those who participated in the survey (49%) consider that it is better to save Bitcoin than Argentine pesos. That makes sense amid the soaring inflation that continues devaluing the South American fiat currency and diluting savings.

Curiously, although 63% of the people expressed their willingness to know about Bitcoin, only 38% claimed to have some knowledge of it.

Concerning the possibility of acquiring Bitcoin, 25% of the participants stated that they intend to buy it. Meanwhile, another 49% said they would but do not know where to do it in Argentina. Among the population under 40 years of age (centennials and millennials), the percentage of purchase intention is higher and amounts to 30%.

Finally, the media agenda, advertising, and word of mouth increasingly include Bitcoin among their topics. In that regard, 58% of the people claimed they have recently heard about the subject, although they do not know about it.

Bitcoin is trading at around USD 36,602 and has accumulated a 1.1% loss over the last 24 hours. Its daily trading volume is above USD 31.60 billion, and its market capitalization is about USD 685.73 billion, according to CoinGecko.

By Alexander Salazar


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