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Here's How Many Americans Want to Make Bitcoin Official Currency

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Thu, 09/09/2021 - 18:24
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Alex Dovbnya
Nearly half of American millennials want to make Bitcoin an official currency
Here's How Many Americans Want to Make Bitcoin Official Currency
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According to a new poll published by global public opinion company YouGov, more than a quarter of Americans want to follow El Salvador’s lead by making Bitcoin an official currency.

YouGov
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11 percent of the 4,912 US adults surveyed would “strongly support” such an initiative while 16 percent of them would “somewhat support” it.

Expectedly, the share of those who are in favor of making Bitcoin a legal currency in the U.S. is much bigger among millennial Americans aged 25-34 (44 percent).

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In the meantime, only 11 percent of baby boomers would throw their weight behind Bitcoin, with 43 percent of them strongly opposing the idea of adopting it as legal tender.

Americans who earn more than $80,000 per year are nearly twice as likely as those who earn less than $40,000 to support making Bitcoin an official form of currency (21 percent and 11 percent, respectively).

Men are more open to adopting the flagship cryptocurrency than women (33 percent and 21 percent, respectively).      

When it comes to political affiliation, 29 percent of Democrats would want to mimic an El Salvador-style crypto bet as opposed to 26 percent of Republicans.

As reported by U.Today, the Central American nation’s highly controversial Bitcoin law came into effect on Sept. 7, which coincided with a sharp price drop.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.