Three Quarters of Russians Have Heard of Bitcoin, Survey Shows

Some 74% of Russian citizens have heard or know something about Bitcoin and cryptocurrencies, a new survey conducted by the Russian Public Opinion Research Center (VCIOM) has shown, according to

According to the survey, only one-third of Russians do not think Bitcoin is a viable investment. Keeping with the trend observed in other previous surveys, more than half of the respondents said they had some knowledge of the cryptocurrency. The results presented by VCIOM on the percentage of Russians who know about Bitcoin (56 percent), is the same recorded in a 2018 survey published by the same organization.

Also, 74 percent said they had heard about the term ‘Bitcoin’ but only nine percent admitted to having more than a basic understanding of it.

Similar to other countries like South Korea, millennials are more likely to know about Bitcoin than older generations with the highest concentration in major cities like Moscow and St. Petersburg. 37 percent of the people surveyed expressed confidence that anyone can acquire bitcoin in Russia.

Cryptocurrencies are not regulated in Russia, and it is not illegal to trade Bitcoin in the country. The State Duma (lower house of Russia’s Parliament) is in the process of establishing a legal framework for developing virtual currency rules.

Bitcoin is up more than 40 percent since the start of the year and almost 68 percent since reaching lows of $3,100 in November 2018.