New research by crypto lender BlockFi has shown that cryptocurrencies such as Bitcoin (BTC), Dogecoin (DOGE), and Ether (ETH) will be the preferred gift for people in the United States.
BlockFi’s “Real Talk: Happy HODLdays” poll, conducted in October among more than 1,250 US residents, found that nearly one in ten Americans will give cryptocurrency to their loved ones as a holiday gift.
Bitcoin is the most popular gift by a wide margin (75%) for people planning to give or receive cryptocurrency as a gift during the 2021 holiday, followed by Dogecoin and Ether, respectively. On the other hand, non-stackable tokens (NFTs) still take time to be accepted as a gift, as only 2% of respondents are interested in receiving them.
Additionally, cryptocurrency is likely to become a hot topic at family dinners, with one in three respondents preferring to talk about their shared digital assets rather than politics during the holidays, the survey found. While baby boomers still prefer to talk about politics, millennials and millennials are planning to start talking about cryptocurrency.
The study revealed a lack of knowledge about how cryptocurrencies are actually awarded. In fact, less than a quarter of respondents knew how to send cryptocurrency as a gift to someone. This shows that cryptocurrency is becoming a popular topic, but more education will benefit more residents, said BlockFi co-founder and senior vice president of operations Flori Marquez.
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BlockFi also asked respondents about their plans for the new year. A third of millennials plan to buy cryptocurrency in 2022, while for older generations it will drop to 25%. About 15% of respondents said they plan to buy NFT in 2022. It should be noted that Gen Zers born after 1997 prefer to buy Dogecoin over Ether.
A similar survey by Crypto.com in Australia found that a quarter of Australian cryptocurrency users are planning to buy cryptocurrency for their loved ones this Christmas.