A social experiment conducted by Capital Creators has found that the overwhelming majority of University of California Boulder students in the US had chosen one US dollar over one Bitcoin, despite the digital asset today being valued at just under USD 8,000.
While the decision is seemingly one of the worst financial decisions you could ever make in your life right now, the study’s creators believe that this was merely a result of a lack of education and awareness of the world’s most widely used cryptocurrency. For them, it signaled that much is still needed to be taught about Bitcoin and that mainstream adoption had still not happened for the cryptocurrency.
Bitcoinist reports that in reality, students choosing one dollar simply had no idea what Bitcoin was, as one of the most common responses given for choosing it was that the dollar was physically real and its value was known.
One respondent was able to vaguely explain that Bitcoin was protected by a password and losing the password would mean losing the Bitcoin. A dollar, however, would never be lost, she argued.
It wasn’t all that great for those who did choose Bitcoin, either, as they weren’t likely to have Bitcoin. One young male who went for 1 Bitcoin only chose it because he “followed Bitcoin” but in fact did not know how to receive it because “he’d have to set up the app” and that “no-one ever trades it”.
So if you ever think you’re too late to own Bitcoin, think again.
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