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A new poll by research and data analysis firm YouGov has shed light on the approval rating of the American population for the government to recognize bitcoin as legal tender. The poll found that 27% of Americans support the movement, with younger generations leading the way with a 44% approval rating. Baby boomers, on the other hand, scorn the idea more often than not.
YouGov found that 11% of those polled “strongly support” a possible law making bitcoin legal tender in the United States, while 16% said they “would support it somewhat.” The demographics of the survey were particularly interesting, as there appeared to be a firm but expected correlation between age and approval rating.
The survey found more support in the United States among the younger generations, with respondents aged 25 to 34 being the most supportive and accumulating a 44% positive outlook for the use of bitcoin as currency in the country. But the baby boomers have shown similar numbers in the opposite direction. Those aged 57 to 75 in favor of the idea were a minority, 11%, while those who opposed represented a larger share of this age group, with 43% showing strong opposition.
YouGov, which surveyed 4,912 U.S. residents, also found that Democratic respondents were more supportive of having bitcoin as a legalized currency in the United States compared to Republicans. But the difference was not that big; nearly 29% of Democrats said they strongly or somewhat supported the US government recognizing BTC as legal tender, compared with just 26% of Republican respondents.
Another correlation found by the survey concerns income. Respondents earning more than $ 80,000 were twice as likely to support the proposal, 21%, than those earning less than $ 40,000, 11%, who are also those who are most strongly opposed, with 40%.
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