A recent survey conducted by PANews, routed through Chinese crypto-friendly media outlet 8BTC questioned 4,980 respondents, 4,200 of which responded in a valid/bonafide manner. It seems that cryptocurrency is quite popular in China as the survey result illustrate that 98.22% of survey participants have heard about cryptocurrency
Skepticism about the Survey’s Result
The aforementioned survey illustrates that crypto ecosystem in China is quite budding, however, some claims that the survey may be skewed. First and foremost, details like the demographics of the respondents, specifically location-wise wasn’t revealed. Which leads many to believe that PANews surveyed middle-class or upper-class citizens that live in sprawling metropolises and ignored those who live in the countryside. While some also point out the vast discrepancy between those who want to invest and those who have invested as a bit fishy.
For some, the strictness of their government should have curbed the interest. As aforementioned, the Chinese government has opted for a very strict hand for cryptocurrencies. Following the governments directive, many influential companies have also opted for an anti- crypto policy like Alipay banned Bitcoin OTC Accounts from its platform. However, despite the strictness, a rise in bitcoin and crypto adoption has been observed.
There is no denying that the craze of cryptocurrencies have been on the rise and multiple surveys throughout the year have had illustrated the same. For instance, a recent survey revealed that 38% Of Freelancers Regularly Use Cryptocurrencies, than a survey by Ron Pauls suggested that most investors would choose Bitcoin for a long-term Investment.
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