The past 12 months have been something of a golden age for cryptocurrencies — with the public being educated about Bitcoin like never before.
Or… so you’d think.
A new survey by Finder suggests that 59% of Australians believe that BTC profits are not subject to tax… and 56% think that Elon Musk invested the cryptocurrency.
Those of you who have been paying attention (and reading CoinMarketCap Alexandria regularly!) will know that BTC was actually created by an anonymous developer who was known by the pseudonym Satoshi Nakamoto.
Men were more likely to believe that Musk concocted Bitcoin. As Finder explained:
“The myth was born online through mere speculation, and despite Musk denying it the rumour has lived on.”
Let’s go over some of the other misconceptions that were bandied about.
Some 44% of those polled believe that the supply of Bitcoin is unlimited. Although this is certainly true for some cryptocurrencies, the total supply of BTC is capped at 21 million, and most of them are already in circulation.
Meanwhile, 39% agreed with a statement suggesting that there are fewer than 100 cryptocurrencies in existence. In actual fact, there are thousands.
Last but not least, 31% believed a myth that Bitcoin cannot be used to make purchases. Finder pointed out that there are “thousands of businesses” across Australia that accept crypto as a payment method.