Cornell Bitcoin Adoption Index Ranks El Salvador, Venezuela and Nigeria Highest

A Cornell University survey on Bitcoin adoption found that El Salvador, Venezuela and Nigeria had the highest share of respondents who had owned Bitcoin.

Bitcoin Magazine reported on September 2 that Cornell published a new Bitcoin adoption index based on a survey of about 26,000 people worldwide on their experience with Bitcoin and their perceptions of it.

The report said countries with unstable local currencies and limited access to U.S. dollars or reliable banking services ranked near the top based on prior Bitcoin ownership, rather than wealthy financial hubs. In those countries, Bitcoin is used as a practical alternative rather than a speculative asset.

One respondent in Venezuela said Bitcoin is faster, safer and less risky than other ways of obtaining U.S. dollars. In El Salvador, a respondent said, “We all own Bitcoin because no one can control it.”