Investing.com | Editor Pollock Mondal
Published Oct 05, 2023 07:15AM ET
A recent survey conducted by Block, led by Twitter creator Jack Dorsey, underscores the growing use of Bitcoin for international money transfers. The data was collected from 6,600 adults across 15 nations.
The survey revealed that 87% of Bitcoin owners use the cryptocurrency for cross-border remittances. In addition, 8.9% of those participating in remittances own Bitcoin. These figures highlight the increasing popularity of Bitcoin in facilitating economical global transactions.
A notable finding from the survey was the difference in optimism towards Bitcoin between remittance participants and non-participants. More than half (56.2%) of those involved in remittances expressed a positive outlook for Bitcoin’s future. In comparison, less than a third (27.8%) of non-participants shared this optimism.
This disparity is likely due to the drawbacks associated with traditional banking methods. As global connectivity continues to rise, cryptocurrencies like Bitcoin are expected to play an increasingly larger role. Despite facing regulatory and economic challenges worldwide, these digital currencies offer faster, cheaper, and more private transactions.
This trend reinforces Bitcoin’s appeal as a tool for remittances and strengthens its case for continued global adoption. The survey’s findings suggest that as we become more interconnected globally, the role of cryptocurrencies like Bitcoin in facilitating international transactions is set to grow.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
