According to a survey released by the Cornell Bitcoin Club on September 3, Bitcoin (BTC) received an average confidence rating of 4.67 on a 10-point scale in 25 countries.
The study revealed significant regional fluctuations in cryptocurrency perceptions. Nigeria led the global Bitcoin Trust level, and Japan scored the lowest among the countries surveyed.
BTC is consistently ranked below traditional assets, such as gold, real estate, and major Fiat currencies, in risk perception comparisons.
Government trust patterns
Ten countries reported higher confidence in Bitcoin than central governments, including Brazil, Indonesia, Kenya, Lebanon, Nigeria, the Philippines, South Africa, Turkey, Ukraine and Venezuela. These regions represent emerging markets or nations experiencing political instability.
The United Arab Emirates, China and Saudi Arabia showed high levels of government trust, significantly surpassing Bitcoin’s trust rating. This pattern suggests that Bitcoin has attracted attention where institutional trust has been eroded, and positions crypto as an alternative to centralized authorities.
Research participants consistently rated Bitcoin as being more risky than traditional investment options across all categories. However, 45% of respondents thought Bitcoin was equally risky compared to stocks, while 43% considered it to be equivalent to head office bonds, indicating consistency with established volatile asset classes.
Questions about Bitcoin’s fraud reduction capabilities, privacy protection, and service provider reliability have generated primarily neutral responses, rather than clear approval or rejection.
This pattern suggests broad uncertainty about the actual profits of Bitcoin, rather than informed skepticism.
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Financial stress correlation
Countries reporting higher financial stress levels, measured by the response to “Controlling my life over my finances,” generally showed an increase in ownership and trust in Bitcoin.
Türkiye, India, Kenya and South Africa recorded the highest financial stress indicators along with rising adoption rates for Bitcoin.
El Salvador, Switzerland, China and Italy reported lowest financial stress levels correlated with declining interest in Bitcoin. Mexico, Italy and Japan are the lowest in both financial stress and cryptocurrency adoption metrics.
Although correlations do not establish causality, the data suggest that Bitcoin may appeal as an alternative financial system in regions where acute economic pressures are experiencing.
Cornell’s research shows that Bitcoin’s global status reflects the regional economic background and institutional trust level rather than a uniform acceptance or rejection pattern.
Uncertainty rather than complete termination characterizes the views of most respondents on cryptocurrency functions.
