Republicans show less support for recognizing Bitcoin as legal currency than Democrats, and baby boomers suppose it’s a dreadful plan.
A new poll has found that 27% U.S. residents support the government recognizing Bitcoin as legal currency.
According to a poll from analysis and data analytics firm YouGov, 11% of respondents “strongly support” the concept that Bitcoin ought to be used as legal currency within the U.S. and an additional 16% of respondents would “somewhat support” it.
The poll, which queried 4,912 U.S. residents, indicated that a bigger portion of Democrat respondents support the proposition than Republicans. Around 29% of Democrats declared they either powerfully or somewhat support recognizing BTC as legal currency compared to 26% of Republicans.
As you would possibly expect, there’s a lot of support among younger generations. Respondents aged 25-34 are extremely supportive of BTC as legal tender, with 44% responding in favor. However, virtually as several baby boomers (aged between 57-75) powerfully opposed the concept (43%) with simply 11 % in total supporting the proposition.
The findings show that financial gain incorporates a vital impact on an individuals’ attitudes concerning crypto, with respondents who earn over $80,000 annually showing double the possible support for Bitcoin as legal tender (21%) than those that earn but $40,000 (11%).
Participants who earn less than $40,000 also are the cluster most powerfully against the concept.
The poll comes amid the backcloth of El Salvador’s disputable Bitcoin Law taking impact on Sept. 7.
Proposed by President Nayib Bukele, the law was passed by El Salvdor’s controversial June despite pushback from the international community and 70% of Salvadorans expressing opposition to the legislation in an early September poll.