Portrait of Bitcoin Holders in the United States: A Deep Analysis of Demographics, Politics, and Morals

Recently, a research report on Bitcoin holders in the United States has attracted widespread attention. The report analyzes the adoption of Bitcoin in the United States from three aspects: demographic characteristics, political leanings, and moral foundations, aiming to explore other factors that may influence Bitcoin holding and attitudes beyond standard demographic data.

Main Findings

1. Younger males are more likely to hold Bitcoin: Bitcoin holders are typically younger and predominantly male, but in terms of race, ethnicity, income, education, and financial literacy, they are similar to the overall U.S. population.

2. Bitcoin holding is not related to political factors: Although there are significant differences in the attitudes of different political parties in the United States towards Bitcoin, survey results show that there is no significant relationship between Bitcoin holding and political inclination. The number of Bitcoin holders under different political backgrounds is basically the same.

3. The Values of Bitcoin Holders: The investigation using moral foundation theory analyzed the values and identity of Bitcoin holders. The results showed that the holding of Bitcoin was not significantly correlated with specific moral foundations. In contrast, Bitcoin holding was more influenced by the understanding of the concept of Bitcoin, recognition of its protocol and assets, and the moral perception of Bitcoin.

Research Background

Although Bitcoin is well known, detailed information about Bitcoin holders is still limited. About 95% of Americans are aware of the concept of Bitcoin, and about 1 in 7 Americans currently own Bitcoin, but detailed data is still scarce.

This study focuses specifically on Bitcoin and limits the research scope to the United States. The survey involved 3,538 adult Americans, collecting respondents' demographic information, ethical tendencies, and their attitudes toward Bitcoin. Data collection was conducted in two phases, with the initial sample collected in November 2023 and a supplementary sample collected in March 2024, the latter focusing on the impact of Bitcoin ETFs on public perception.

Demographic Characteristics Analysis

Research has found that the group of Bitcoin holders in the United States is very diverse. There are no significant differences between Bitcoin holders and non-holders in terms of race, ethnicity, religion, marital status, income, education level, or financial literacy. However, there are significant differences in age and gender among Bitcoin holders: they tend to be younger and male.

The Impact of Political Bias on Bitcoin Holders

From a political perspective, there is no significant difference between Bitcoin holders and non-holders. Although Bitcoin is generally considered a right-wing or libertarian phenomenon, research findings indicate that the political distribution of Bitcoin holders is very similar to that of non-holders, with most people concentrated in the middle of the political spectrum.

The only significant difference is that libertarians are more likely to hold Bitcoin, although they make up a very small percentage of the respondents (only 3%). Overall, the holding of Bitcoin does not have a direct relationship with political factors.

The Connection Between Moral Foundations and Bitcoin Holders

The study adopted moral foundation theory to explore the characteristics of Bitcoin holders in terms of moral foundations. The results show that Bitcoin holders exhibit unique characteristics: they are more focused on cultural freedom and equality; they are comparable to conservatives in terms of sanctity and loyalty, comparable to liberals in terms of care, while being positioned between liberals and conservatives in terms of economic freedom and authoritarianism.

This indicates that Bitcoin holders possess a unique diversity and complexity in their moral orientation, not entirely aligning with traditional liberal or conservative classifications.

Key Factors Affecting Bitcoin Holders

Research has found that four key cognitive factors significantly influence whether a person is a Bitcoin holder:

1. Trust in the underlying technology of Bitcoin
2. Knowledge about Bitcoin
3. The Practicality of Bitcoin
4. The Moral Perception of Bitcoin

Bitcoin holders generally have more confidence in its technology and believe that Bitcoin is morally positive. Non-holders, on the other hand, show distrust or a neutral attitude.

Conclusion

Research shows that Bitcoin ownership is not related to specific social or political identities, but closely related to individuals' levels of knowledge and understanding of Bitcoin. Bitcoin holders are often those who have a deep understanding of technology, believe it has practical uses, is trustworthy, and is morally acceptable.

This means that the future development potential of Bitcoin depends on the public's understanding of its value and use, rather than political disagreements. The popularity of Bitcoin is not limited to a specific political faction or social group, but is driven by individuals' understanding and acceptance of the technology.