According to a new poll, only 27% of U.S. citizens support recognizing Bitcoin as an official form of payment. Democrats show greater support than Republicans, Coin Telegraph reports. Younger people are more inclined to officially recognize BTC. The majority of baby boomers think the idea is absolutely ridiculous.
The question asked:
The poll was conducted by UK-based market research and data analytics firm YouGov. The results show that 11% of respondents “strongly support” the idea of accepting Bitcoin as a legal currency in the United States. The remaining 16% of respondents support the idea to some extent.
More Democrats than Republicans show support
As expected, more Democrats than Republicans support the proposal. After all, the latter are more conservative in every way. The survey of nearly 5,000 U.S. citizens found that just under 30% of Democrats strongly or at least partially support recognizing Bitcoin as a legal tender. However, there wasn’t much of a difference. 26% of Republicans supported the proposal.
Younger people are more inclined to accept BTC
As you might expect, younger people are more likely to be in favor. People between the ages of 25 and 34 strongly support the idea, with 44% in favor. However, only 11% of baby boomers support the idea. This is the generation of 57-75 year olds. Of them, 43% were strongly against the idea.
How income affects attitudes towards digital assets
One interesting finding of the survey was that income had a statistically significant impact on people’s attitudes towards digital assets. More specifically, wealthier respondents (those with annual incomes of more than $80,000) were almost twice as likely to support the idea as those who earned half as much as they did. The percentage was 21% versus 11%. Those in lower tax brackets strongly opposed the idea.
The precedent in El Salvador
The survey was prompted by therecognition inspired byBitcoin as legal tender in El Salvador. Despite protests from the IMF and the international community, the law proposed by President Nayib Bukele was passed in June this year. In a September poll, more than two-thirds of Salvadorans opposed the law. This shows that Bitcoin can be adopted even without majority popular support.