The Digital Currency Council (DCC) found last week that nearly 40% of Americans surveyed during March 2015 first heard the word “bitcoin” on the internet, compared to TV/radio (14.1%) or newspapers/magazines (6.5%). Few respondents reported hearing the word from friends and family (8.4%) or professional advisors (2.7%). Notably, almost 30% first heard the term when completing the very survey from which this data was being collected.
These findings are striking given that a previous DCC Pulse Report showed that Americans tend to turn to friends, family or professional advisors when seeking trusted financial advice. Could it be that Americans don’t equate bitcoin with a financial instrument? Or more likely, could it be that professional advisors are not equipped to answer their clients questions about bitcoin?
David Berger, CEO of the Digital Currency Council, explained, “Professional advisors are missing an opportunity to solidify client relationships by educating on this emerging technology, transaction network, and asset class. If advisors don’t introduce bitcoin to their clients – regardless of the advice they provide – their clients will turn someplace else for the information.”
This is the sixth question in the Digital Currency Council’s (DCC) Pulse survey research series. The data collection was conducted among a representative sample of 750 people in the United States.