10 September, 2021
27% of U.S. Supports Adopting BTC
A recent survey observed that over 27% of American citizens support the U.S. government adopting Bitcoin as legal tender. Data from research analytics firm YouGov reveals that 11% of the participants strongly support the idea of Bitcoin gaining legal tender status in the United States and 16% are “somewhat supportive” of the issue.
The data collected by YouGov also bolsters the idea that the younger generation is more receptive to digital assets like Bitcoin. A total of 44% of respondents in the 25-34 age group were highly supportive of BTC as legal tender. As expected, baby boomers in the age group of 57-75 years old were markedly opposed to the proposition. The reports also found that income was an important factor in shaping an individual’s receptiveness.
Americans who earned more than $80,000 per year were twice as receptive to accepting Bitcoin as legal tender than participants that earned less than $40,000 per annum. It’s notable that those surveyed who earned less than $40,000 are also the ones most strongly opposed the idea.
This poll was released after El Salvador became the first country to adopt Bitcoin as legal tender. The proposition first revealed by President Nayib Bukele was met with harsh opposition before finally coming into effect on 7 September, 2021. Since the White House recently showed signs of endorsing Bitcoin over other altcoins in their latest $1 trillion infrastructure bill, it may be a possibility that the U.S. accepts Bitcoin as legal tender in the future.