A recent Cornell Bitcoin Club survey, spanning 25 countries, offers a nuanced look at global perceptions of Bitcoin (BTC), revealing an average trust score of 4.67 out of 10. Far from uniform acceptance, the study highlights how local economic conditions and levels of institutional trust significantly shape how people view the leading cryptocurrency. It suggests that Bitcoin's appeal often emerges in regions grappling with financial instability or a lack of faith in traditional systems.
Global Trust Landscape and Institutional Confidence
The survey found stark regional disparities in Bitcoin trust, with Nigeria leading the global charts while Japan registered the lowest scores. Bitcoin consistently ranked below established assets like gold, real estate, and major fiat currencies in terms of perceived risk. However, a significant portion of respondents, 45%, considered Bitcoin as risky as stocks, and 43% equated it to corporate bonds, indicating some alignment with other volatile asset classes. A compelling trend emerged regarding government trust: ten countries, primarily emerging markets or those experiencing political instability, reported higher confidence in Bitcoin than their national governments. Conversely, nations with strong government trust, such as the UAE, China, and Saudi Arabia, showed lower Bitcoin confidence. This pattern suggests Bitcoin acts as an alternative, gaining traction where trust in centralized authority has eroded.
Financial Stress as a Catalyst for Bitcoin Adoption
The study also established a notable correlation between financial stress and Bitcoin adoption. Countries where individuals reported higher levels of financial anxiety, like Turkey, India, Kenya, and South Africa, generally exhibited increased Bitcoin ownership and trust. In contrast, regions with lower financial stress, including El Salvador, Switzerland, China, and Italy, demonstrated reduced interest in Bitcoin. While correlation does not imply causation, this data strongly suggests that Bitcoin is increasingly perceived as a viable alternative financial system, particularly in areas facing acute economic pressure. This widespread uncertainty about Bitcoin's practical benefits, rather than outright skepticism, appears to define public opinion, underscoring its context-dependent global position.
