48% of Brazilians want to follow in El Salvador's footsteps in Bitcoin adoption, according to survey
48% of Brazilians want to follow in El Salvador's footsteps in Bitcoin adoption, according to survey By Hannah Perez

Brazilians and Colombians were, out of Latin America, the most supportive of Bitcoin adoption in El Salvador. Meanwhile, another survey in the U.S. found that 28% would oppose recognizing Bitcoin

as a legal currency.


A recent study revealed that people in Brazil are the Latin American population most supportive



adoption in El Salvador. In fact, many would like Brazil to grant legal tender status to the leading cryptocurrency as well.

According to the Blockchain 2021 report by public relations agency Sherlock Communications, 48% of Brazilians believe that Brazil should follow in El Salvador’s footsteps in Bitcoin adoption. The study, quoted by local media Valor Economico

, detailed that this percentage is represented by 31%, who said they agree, and 17% who said they totally agree with the measure.

Brazilians were the biggest proponents of crypto-recognition in the region, with 56% supporting El Salvador’s approach and 48% saying they want Brazil to adopt it as well

,” the report acknowledged.

Conducted through research platform Toluna

, the study found that 30% of Brazilians neither support nor oppose the measure, while 21% are against the idea (12% disagree and 9% strongly disagree). The survey was conducted among more than 2,700 users in Argentina, Brazil, Colombia, Mexico and Chile.

Brazilians and Colombians support Bitcoin adoption

Overall, Brazilians were optimistic about the outlook for cryptocurrencies in their country. Thirty-one percent said the country has made progress on cryptocurrencies while 35% said Brazil is lagging behind other countries. Also, 23% believe that in a few years there will be many more users and 4% believe that cryptocurrencies have no future in the territory.

See also  New Dogecoin update reviewed, Elon Musk responds that it's "important"

Among the main motivations for investing in digital currencies, most Brazilians highlighted the possibility of diversifying investments (55%). Some 39% said they did so to protect themselves against inflation and financial instability. In fact, 75% of respondents admitted that the country’s economic crisis made them more interested in cryptocurrencies.

Meanwhile, 37% claimed to follow the technological trend. According to the study, the South American country has more than 1.4 million cryptocurrency users, the most popular being <a href=”https://www.diariobitcoin.

com/glossary/bitcoin/” target=”_blank” rel=”noopener”>Bitcoin (92%), Ethereum (31%) and Litecoin


According to Observatorio Blockchain, Colombians were the most supportive of the Salvadoran initiative after Brazil. In Colombia, 52% of those who participated in the Sherlock study said that the adoption of Bitcoin

in El Salvador was a good idea.

Meanwhile, when it came to Latin American respondents as a whole, half agreed that Bitcoin

adoption was a good idea overall and 43% said they thought their country should follow suit. Although only 9% of all respondents strongly disagreed with the idea of their own country adopting the same measure as El Salvador.

In the U.S., 28% would strongly oppose

a similar survey on the adoption of Bitcoin as a legal currency in the United States yielded very different data. In general, it seems that the population of the North American country has a somewhat more conservative perception about the recognition of Bitcoin

as a payment mechanism than the South American population.

A new survey conducted by research and data analysis firm YouGov found that 27% of Americans support the measure, with younger generations leading the way with a 44% approval rate. Baby boomers

, the generation between the ages of 57 and 75, on the other hand, are more inclined to despise the measure. 48% of Brazilians want to follow in El Salvador's footsteps in Bitcoin adoption, according to survey48% of Brazilians want to follow in El Salvador's footsteps in Bitcoin adoption, according to surveyWould you support or oppose the U.S. making Bitcoin a legal form of currency? This would mean businesses would accept Bitcoin in exchange for goods and services, in addition to continuing to accept the U.S. dollar.” – YouGov

See also  Self Custody: Square is tinkering with its own hardware wallet

According to the survey, 11% of respondents “strongly support” an eventual law making Bitcoin legal tender in the U.S., while 16% said theywouldsomewhat support

it.” A larger group responded that they didn’t know (34%), while 28% of respondents said they would strongly oppose it.

YouG’s research

ov, which queried nearly 5,000 U.S. residents, also found an interesting correlation between income and the trend of acceptance of Bitcoin as a legal currency. Respondents earning more than USD$80,000 were twice as likely to support the proposal (21%) as those earning less than UDS$40,000 (11%).

Recommended Reading

Sources: Economic Value, Bitcoin Magazine, Blockchain Observatory

Version by Hannah Estefania Perez / DiarioBitcoin

Image from Unsplash