36% of Americans Oppose Adoption of Bitcoin

Share Article
In Brief
  • A new poll has shown that nearly 36% of Americans are against the government recognizing Bitcoin as legal tender.

  • Although a plurality of respondents seem to be against Bitcoin adoption in the US, the other respondents were similarly split.

  • The poll was taken in light of El Salvador’s recent adoption of Bitcoin as legal tender, which most Salvadorans oppose.

  • promo

    Join the BIGGEST ICO ever launched in Spain: Buy B2M now.

The Trust Project is an international consortium of news organizations building standards of transparency.

A new poll has shown that nearly 36% of Americans are against the government recognizing Bitcoin as legal tender.

Sponsored



Sponsored

According to a recent poll from research and data analytics firm YouGov, some 28% of respondents “strongly oppose” the idea. Meanwhile, another 11% only “somewhat oppose” adopting Bitcoin as legal tender, similarly to El Salvador this past week.

Poll details

Although a plurality of respondents seem to be against Bitcoin adoption in the US, the other respondents were similarly split. About 11% “strongly support” the idea, with another 16% indicating “somewhat support,” amounting to roughly 27% in favor overall. Finally, an additional 34% indicated that they didn’t know.

Sponsored



Sponsored

A total of 4,912 US residents were surveyed for the poll, which also segmented its results according to different demographics. For instance, 39% of Republican respondents were “strongly opposed” to adopting Bitcoin as legal tender, as opposed to only 26% of Democrats.

The results are also divided along generational lines, with 44% of 25-34 year olds supporting the idea. This contrasted significantly with those over 55, 54% of whom reject the proposition overall. Region and gender also seemed to influence respondents’ knowledge of the subject. For example, 37% of those from the Midwest and the South, and 41% of women responded they “don’t know.”

Bitcoin adoption

YouGov performed the survey in light of El Salvador’s recent adoption of Bitcoin as legal tender. Although the government had been preparing for its introduction since the announcement in June, an increasing number of Salvadorans have grown dissatisfied with the idea.

According to a poll from a Central American University (UCA), based in El Salvador, at least 67.9% of 1,281 people surveyed said they disagree or strongly disagree with the use of bitcoin as a legal tender. Meanwhile, just over 32% of people said they agree on some level. The poll, carried out in August, also showed that 90% of people did not have a clear understanding of bitcoin. Another 80% said they had little or no confidence in its use, while 7 out of 10 thought lawmakers should repeal the Bitcoin law. Many have also taken to the streets to express their discontent.

Meanwhile, as the world watches how the Bitcoin rollout unfolds in El Salvador, other countries have been stirred. Recently, Panama introduced legislation of its own to make Bitcoin legal tender, while Russia issued a statement confirming that it would not be doing that.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Bit2Me ICO JUST STARTED! Buy B2M token now.

Buy now!

Market signals, studies and analysis! Join our Telegram Today!

Go