A poll on Bitcoin suggests that most Bitcoin users would still use the digital currency if the cost per transaction reaches $100,000.
The poll conducted in March 2024 shows that 41.7% of the 1,510 respondents were willing to use Bitcoin even if the fee per transaction goes that high.
Interestingly, only 21.3% and 20.9% would use “shitcoins” and banks respectively, while 16.2% would rather use other options.
Unprecedented outcome
The outcome of the poll is rather unprecedented because at a transaction fee of $100,000, not many people can afford to pay.
According to the conductor of the poll, the outcome is also unusual because it makes no sense for anyone to pick the first option.
When he was confronted about how “nonsensical” the poll was because it did not include the equivalent of the fee in sats (the smallest unit of Bitcoin), he said:
“That specific doesn’t really matter, I gave you the only variable you actually need. The poll isn’t about whether you are a billionaire when this happens, it is about what you would do if you were (very likely) priced out. Almost no one should be answering Option A.”
Stronger conviction
Meanwhile, it is unlikely that the conviction of the respondents has changed at this time. If anything, it has been strengthened.
As of the time of the poll, Bitcoin was worth only $69,000, and is today worth over $108,000. This means they are likely far more positive about the future of Bitcoin and more people may be interested now than then.
Indeed, many more people have gone into Bitcoin in the last one year, including corporate investors, banks, and even the government.
U.S. president Donald Trump has already succeeded in passing a Bitcoin reserve bill into law, making it legal for the state to accumulate the digital asset.
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