27% of Americans support the adoption of Bitcoin in the United States
According to a YouGov poll released this September 9, 2021, 27% of U.S. residents support the adoption of Bitcoin (BTC ) as a legal tender. The polling and market research platform surveyed 4912 US adults representative of the general population.
In detail, 11% of Americans ” strongly support” the adoption of Bitcoin, with 16% of voters saying they give ” some support ” to the idea of the cryptocurrency gaining currency status in the U.S. and ” businesses accepting Bitcoin in exchange for goods and services, in addition to continuing to accept the U.S. dollar.” According to a survey by Momentive, 11% of Americans have invested in cryptocurrencies.
On the other hand, 11% of respondents are ” somewhat opposed ” to the idea while 28% of them are strongly opposed. Finally, it should be noted that 34% of those polled by Yougov simply don’t know what to say to the question.
This poll comes just days after the Bitcoin law went into effect in El Salvador. As of September 7, 2021, the cryptocurrency is the country’s second legal currency alongside the dollar. All merchants established in El Salvador must accept Bitcoin as a means of payment. As a reminder, 70% of Salvadorans have been opposed to adopting the currency, mainly due to lack of knowledge.
More affluent Americans are more supportive of Bitcoin adoption
YouGov’s study also paints a picture of Americans in favor of cryptocurrencies. Not surprisingly, younger people are more likely to support Bitcoin adoption than others. For example, 44% of Americans between the ages of 25 and 34 support the digital currency. This is also the case for 36% of respondents aged 16 to 24. Conversely, 43% of Americans between the ages of 57 and 75 are strongly opposed to an adoption of Bitcoin alongside the king dollar.
These results are consistent with data froma study by the Gemini exchange. According to the survey conducted in early 2021, 74% of cryptocurrency owners in the United States are between the ages of 25 and 44. The average age of a crypto investor is 38. On the other hand, individuals over the age of 55 are few (4%) to invest in cryptocurrency.
Finally, it should be noted that income also plays a role in the perception of Bitcoin. Americans who earn more than $80,000 a year are almost twice as likely to support cryptocurrency adoption as respondents who earn less than $40,000. In fact, the average investor’s income is $110,000 a year, according to Gemini’s study.
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About the author: Florian Bayard