56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own crypto
56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own crypto By Hannah Perez It

‘s not that most Australians think Elon Musk is Satoshi, they just think the billionaire entrepreneur invented Bitcoin

. The survey also revealed interesting facts about crypto adoption in Australia.

***

Could billionaire Elon Musk be the mysterious creator of Bitcoin? Some Australians think so. According to recent research published by Finder, 56% of Australians believe the flagship cryptocurrency was the invention of the Tesla and SpaceX

CEO. 56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own crypto56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own cryptoMost Australians believe Elon Musk invented BTC – Finder

The survey targeted a total of 1,000 Australians to gain insight into the adoption and awareness of cryptocurrencies among the population. The nationwide research was conducted by Qualtrics and published by Finder

on September 2.

While the survey highlighted on a growth in the number of cryptocurrency enthusiasts in Australia, it appears that many know little about the basics of the technology. The survey highlighted as “incorrect” the belief most Australians have about Elon Musk as the creator of Bitcoin

.

56% of Australians don’t know about Satoshi Nakamoto

As many know, more than a decade after its origins, the identity of Bitcoin’s creator is still unknown. What little information is available is that the cryptocurrency was created by a mysterious individual, or group, known by the pseudonym Satoshi Nakamoto

.

While the research did not provide further details on the basis for this belief, it suggests that it is not that Australians share the idea that Musk could be the face behind Nakamoto. Instead, they may apparently be completely unaware of Nakamoto’s existence.

According to Finder’s findings, more than half (52%) of Australians get their news from social media platforms, where figures like Musk have massive reach. If you consider that in

Amid the flurry of tweets Elon Musk has posted in recent months related to Bitcoin

and other cryptocurrencies, the assumption doesn’t seem far-fetched.

In fact, in this regard, the study also highlights the influence the billionaire entrepreneur has had on price fluctuations in the crypto market. Finder had initially revealed its findings in May about the widespread belief that Musk had invented Bitcoin

, and shared them again in its recent report.

The chart below shows how Elon Musk’s tweets coincide with Bitcoin prices. Not surprisingly, a Finder poll in May found that 56% of Australians incorrectly believe that Elon Musk created Bitcoin.

56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own crypto56% of Australians believe Elon Musk invented Bitcoin, according to poll, and only 17% own cryptoInfluence of Elon Musk’s tweets on Bitcoin price fluctuations – Finder

In this regard, Bitcoin

Magazine noted that it is possible that respondents felt pressured to mention a creator, or, also, if Musk’s name was presented in a list of candidates, the name may have resonated, leading them to choose him as the safest option.

35% believe Bitcoin will overtake fiat

Among the notable findings, the study found that 1 in 6 Australians own cryptocurrencies. According to Finder

, the figure represents an increase from 8% to 13% since January 2021.

Furthermore, the group of Bitcoin believers grew to 52% among Generation Z respondents; while 50% of all respondents indicated that they believe Bitcoin is a legitimate investment. More surprisingly, research suggests that 35% of Australians believe that “Bitcoin willeventually overtake fiat

,” or be more widely traded than fiat currency by 2050.

In terms of the digital currencies they hold, Bitcoin is the most popular among Australian investors.

stralians with 9%, followed by Ethereum with 8%. 5% said they own Dogecoinwhile Bitcoin Cash is held by 4% of the population. The survey also found that the population of women holding cryptocurrencies increased from 7% to 11% since January 2021.

While about 49% of respondents said they are not interested in cryptocurrencies at all, almost 30% responded that they would invest in such assets if they understood how it all worked.

Beyond the lack of awareness about the creator of . Bitcoincryptocurrency, previous Finder research had revealed that 44% of Australians thought the major asset has an unlimited supply just like fiat money. Also more than 20% of them had admitted ignorance about how to buy such assets.

Recommended reading

Source: Finder, Bitcoin Magazine, Cointelegraph, Cointelegraph,

Version by Hannah Estefania Perez / BitcoinDaily

Image by Unsplash