What Americans think about the possibility of adopting Bitcoin as an alternative to the dollar

27% of US residents support the government recognizing Bitcoin as legal tender, as is the case in El Salvador.

That’s according to a survey by YouGov, a global internet market research and data analysis company.

Citizens voting Democratic candidates show more support for recognizing Bitcoin as legal tender than Republicans, as reported by Coin Telegraph. In turn, the youngest are more accepting of new technologies; This is reflected in the fact that they are more inclined to accept BTC as legal tender, compared to the elderly. As, Most baby boomers (people born between 1946 and 1964) find the idea absolutely ridiculous.

The question asked in the survey was, “Would you support or oppose the United States making Bitcoin a legal form of currency?” : this would mean that companies accept Bitcoin in exchange for goods and services, in addition to continuing to accept the US dollar. That is, the proposition generated by the survey was aimed at determining Americans’ acceptance of the cryptocurrency, and in turn, whether they were interested in using it as a form of payment.

The results show that 11% of those polled “strongly support” the idea of ​​accepting Bitcoin as legal tender in the United States. The remaining 16 percent of those polled in his favor support him to some extent.

The survey, which covered nearly 5,000 U.S. residents, found that Just under 30% of Democrats expressed strong support, or at least some support, for the recognition of Bitcoin as legal tender. However, there was not a big difference. 26 percent of Republicans supported the proposal.

Meanwhile, young people expressed greater support: people between the ages of 25 and 34 were very supportive of the idea: 44% were in favor. However, only 11 percent of baby boomers supported the idea; it is the generation of 57 to 75 years old. Among them, 43 percent strongly opposed the idea.

An interesting finding from the survey was that the difference in income reflected a statistically significant difference in people’s attitudes towards this digital asset class. Specifically, the wealthiest respondents, with salaries over $ 80,000 per year, were almost twice as likely to express support as those earning half their income. The percentages were 21 percent versus 11 percent. Those in the low-income segment strongly opposed the idea.

The survey was inspired by the acceptance of Bitcoin by El Salvador as legal tender. Despite protests from the IMF and the international community (including part of El Salvador), last June the law proposed by President Nayib Bukele was approved, which was finally adopted this week. However, in a September poll, more than two-thirds of Salvadorans expressed their opposition to the law. This shows that Bitcoin can be adopted even without the majority support of the population.

Franco Capelo, CEO of the Institute of Technical Analysis, said Infobae: “This type of survey is interesting to understand what the inhabitants of one of the main economic powers in the world think. Even so, the final decision will always be with the rulers. In this particular case, the United States is very unlikely to want to accept one of its strongest competitions today. If it did, it would be like saying the euro beats the dollar, which the United States would never do. “

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