In a recent survey carried out by Cornell Bitcoin Club, respondents from 25 countries shared their views on whom they trust Bitcoin or their governments, and 10 out of 25 countries reported trusting Bitcoin more than their own governments including Lebanon. Lebanon, Brazil, Indonesia, Kenya, Nigeria, Phillipines, Turkey, Ukraine and Venezuala all trust Bitcoin more than their governments.
This is not surprising given that these countries are either facing currency depreciations, economic hardships and even war.
On the opposite end the UAE and Chinese respondents had very strong trust in their governments.
Yet most respondents acknowledge that Bitcoin is riskier that gold, real estate and the U.S. dollar currency.
The data also showed that countries reporting higher financial stress show higher bitcoin ownership. Countries showcased in this category were Turkey, India, Kenya, and South Africa.
Another key finding in the survey is that while awareness on Bitcoin is high, knowledge is uneven and understanding is low.
Bitcoin has become the go to digital asset for those facing trust issues with their own currencies, as well as an investment asset for institutional investors.
