September 30, 2022

One in Every Four Americans in Favor of Legalizing Bitcoin in the US: Survey

2 min read

El Salvador’s decision to accept bitcoin as a legal tender is already rattling some cages. Other little nations in the area dabble with the exact same idea. A recent survey from the North – – particularly in the United States – – revealed that almost 30% would consent to have BTC as a legal currency too.

Americans on Legalizing Bitcoin

El Salvador – – a little Central American nation – stunned the world in June this year when it announced it will vote to make bitcoin a legal tender within its borders. It sounded like a dream come true for BTC maximalists, however that dream came true three months later.

Thus, as of September 7th, the cryptocurrency is undoubtedly a legal ways of deal in the nation, and El Salvador currently acquired portions of the asset. Rather surprisingly to some, other nations – – such as Paraguay, Panama, and Colombia – – dabbled whether or not to follow El Salvador’s example – – so far, however, to no avail.

While it might be more anticipated for smaller sized nations with considerable monetary issues to turn to an alternative option like bitcoin, it sounds near difficult for the world’s biggest economy – – the US – to do the very same(at least in the meantime).

A current survey carried out by YouGov – – an information analytics business – – showed that in fact, the majority of Americans would rather keep it this way. On the concern “would you support or oppose the US making Bitcoin a legal form of currency,” 11% said “somewhat oppose,” and 28% responded to “strongly opposed.”

In contrast, the portion of individuals who “strongly” supported the concept was 11%, and those who were “rather” in favor were 16%. 34% reacted that they are not certain.

Survey on BTC Adoption. Source: YouGov
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Survey on BTC Adoption. Source: YouGov Region, Gender, and Age The study also broke down the responses in various categories varying from the participants’ area to gender and age. For instance, those from the West were more in favor of such a possible law, while individuals from the Midwest opposed it one of the most.

Males were likewise slightly more positive than females, most of which said they weren’t sure whether adopting bitcoin legally was a good concept.

When it boiled down to age, the results were expected to a big level. Participants aged between 25 and 34 were mainly inclined to have BTC legislated, while 55 and over were firmly versus it.