Elon Musk Survey: 56% of Australians Incorrectly Believe Elon Musk Invented Bitcoin

Elon Musk Survey: 56% of Australians Incorrectly Believe Elon Musk Invented Bitcoin thumbnail

Elon Musk

A report in regards to the state of Bitcoin and cryptocurrency in Australia for August launched by Finder means that 56% of Australians imagine Elon Musk invented Bitcoin. Finder, who carried out the research, certified these beliefs as “incorrect.”

The report explains that Bitcoin was truly created by an nameless particular person or small group of individuals underneath the title Satoshi Nakamoto, as most Bitcoiners know. Apparently it’s not that Australians imagine Elon was Satoshi, however relatively they imagine that Elon merely “invented” Bitcoin.

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Although it’s absurd to assume Elon invented Bitcoin, it’s comprehensible that when pressed to call an creator, or if Elon’s title was introduced in a listing of candidates, it could stand out to the thoughts of a mean Australian, because the report additionally signifies that greater than half of Australians get their information from social media platforms on which fiat figures like Elon have an outsized attain in proportion to their understanding of Bitcoin. Whereas Elon has a really rudimentary understanding of Bitcoin, he does get pleasure from an enormous following on Twitter, and his Twitter antics are sometimes correlated with momentary market actions.

In keeping with Finder, which is Australia’s greatest comparability web site, 9% of Australian’s personal Bitcoin. It’s unclear what the definition of “possession” is on this case. It’s essential to level out that many Bitcoiners wouldn’t think about easy Bitcoin worth publicity via platforms like Robinhood and Venmo to be actual Bitcoin possession. Nonetheless extra Bitcoin maximalists would argue that any cash left on any trade, any cash that aren’t self-custodied are nothing greater than an I-owe-yous and don’t qualify as Bitcoin possession. Finder, nevertheless, made no such distinction of their research.

The Finder research additionally means that 35% of Australians imagine “Bitcoin will ultimately overtake fiat”, or be transacted extra extensively than it. Amongst Gen Z, Finder confirmed 52% shared that prediction. Many Bitcoiners the world over share the idea that the laborious retailer of worth will suck the financial power out of all property folks use to retailer their wealth as a hedge in opposition to fiat inflation.

Half of the individuals indicated they believed Bitcoin to be a “reputable funding.” This was in step with the research’s discovering that 1 in 3 Australians haven’t purchased Bitcoin as a result of they’d relatively retailer their cash in shares or financial savings accounts.

“Over the previous three years, Bitcoin has been rising at a sooner fee than property. If the previous three years of progress had been to proceed indefinitely, one Bitcoin could be value greater than the common Australian residence by as early as 2045,” Finder reported.



Finder’s research methodology is to trace shopper sentiment via a survey pool of simply over 1,000 Australians. Finder’s panel of specialists predicted the worth of Bitcoin will exceed $300,000 (U.S.) by 2025. Over half of Finder’s panel of specialists anticipate Bitcoin will substitute fiat forex and change into the dominant type of international finance by 2050.

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