According to the Independent Reserve Cryptocurrency Index (IRCI), BTC has topped the crypto charts of Australia to be ranked as the cryptocurrency with the highest brand awareness.
IRCI surveyed 2,000 Australians to prepare this report. Stephan Livera, a popular Australian podcaster, mentioned, "Bitcoin continues to grow in brand awareness because it was first and because it was truly the zero to one moment akin to discovering a fire or inventing the printing press."
IRCI used the 2,000 of the youngest age group Australian population. As per the survey, while 92% of Australians had heard of cryptocurrencies, over 90% of them have heard of BTC. The respondents claimed that BTC tops the list of cryptocurrencies in terms of brand recognition, ownership, and overall sentiments.
As for the population of people over 65 years of age, the report showed a hike of over 93.5%. Thiy indicates how quickly the boomers are getting familiar with Bitcoin.
Stephan Livera stated, "Bitcoin also has the strongest community of builders & educators, so it sustains over market cycles."
The price of BTC has witnessed a significant decrease in its value during the ongoing crypto winter. However, Australians are showing a pretty positive attitude toward cryptocurrencies. The report suggests that despite the winter blues, Bitcoin has dominated the Australian world and is not backing away from crypto assets anytime soon.
According to the report, 26 million Australians are optimistic about cryptocurrency.
Most of the surveyed Australian people believe that by 2030, the price of BTC will increase in value and might even double its current price. Approximately 43% believe the price/BTC will be over $30,000.
IRCI also surveyed those who do not hold any cryptocurrency to get the least biased opinion. Many of them are of the view that their investments would have the potential to increase in value if they invested in Bitcoin.
If we look at the ongoing trend, it seems like the younger demographic is pretty much disenchanted with crypto assets. Those aged 18-24 are the fastest in plunging their crypto holdings.
The chart indicates that the fall went to 55.7% from 33.3% for this age group. The overall crypto ownership, however, has stooped marginally from 28.8% to 25.6%.
Livera indicated that it is unclear which assets the group is still holding and which they are no longer holding.
In the case of the broader questions, the report has bundled Bitcoin together with other cryptocurrencies like Solana or Ethereum. For instance, the report asks questions like "Will crypto be accepted by businesses?". This was even though not what Solana or Ethereum had as their objective in the first place.
Ethereum was a means to monetize the platform, while Solana's objective was to comprise dApps or Decentralized applications.