USA: less trust in Libra than in Bitcoin
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USA: less trust in Libra than in Bitcoin

By Marco Cavicchioli - 24 Jul 2019

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According to a recent survey, the vast majority of Americans have less trust in Libra than in bitcoin (BTC).

The CivicScience survey specifically focused on interests and concerns related to Libra and was conducted among 1,799 US adults, of whom only a total of 5% expressed real interest in the new digital currency.

The greatest interest was expressed by young people between 18 and 24 years old. But the most interesting results are those derived from the comparison with bitcoin. 

In fact, a survey conducted in July in the US on more than 2,100 adults found that 79% of respondents said they had already heard of bitcoin or other cryptocurrencies, although most say they do not own them: only 6% have invested in cryptocurrencies. 

The main reason for owning bitcoin was long-term investments, followed by short-term investments and independence from government authorities. In other words, the use as a transactional currency has not emerged as relevant. 

Libra, on the other hand, will be primarily a transactional currency, so it is no wonder that it has received a cold welcome in this survey. 

However, the most obvious difference is the one about trust. In fact, while bitcoin is a decentralised, trustless cryptocurrency, Libra isn’t. Moreover, the recent events of Facebook with regard to privacy have a significant role to play in building trust in this new digital currency. 

These might be the reasons why overall 40% of respondents said they trusted Libra less than bitcoin or other similar cryptocurrencies, while only 2% said they trusted it more. The remaining 39% preferred not to give an opinion.

usa libra bitcoin

What’s interesting is that the comparison with the other survey, which reveals that only 6% have invested in bitcoin, clearly shows that 40% of people who claim to trust Libra less than bitcoin is really a very high figure. 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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