27 Percent of Americans Would Like Washington to Adopt Bitcoin: Survey
Bitcoin legalization as a topic is growing significantly, thanks in no small part to the developments in El Salvador.
Interestingly, a growing number of people in the United States are also looking forward to the day that Bitcoin will become legal tender in the country.
Democrats and Millenials More Receptive
Earlier this week, research and data analytics firm YouGov shared a research report showing that 27 percent of Americans would support the government making Bitcoin legal tender.
The report explained that 11 percent of respondents strongly support the move, while another 16 percent would “somewhat support” it.
The YouGov poll had taken responses from 4,912 residents in the country. It shared a divide among Democrats and Republicans – the two major political parties in the country. As the report showed, about 29 percent of Democrats would either strongly support or somewhat support recognizing Bitcoin as legal tender in the country. This compares slightly favorably to the 26 percent of Republicans who answered the same way.
Besides political inclinations, the poll also divided respondents based on demographics. Unsurprisingly, respondents between the ages of 25 and 34 are much more supportive of the Bitcoin legalization move, with 44 percent of them showing a positive response. Interestingly, 43 percent of baby boomers (people between 57 and 75) opposed the idea.
El Salvador: Changing the Narrative
As expected, the poll is coming off El Salvador’s crypto law, which officially confirms Bitcoin as legal tender in the country. President Nayibb Bukele has faced heavy criticism from both home and abroad over the law, but he has so far remained resolute in his commitment to the leading cryptocurrency.
Bitcoin was eventually incorporated into El Salvador’s economy on September 7. Since then, reports have confirmed that adoption in the country has ramped up. Popular fast-food chain McDonald’s has reportedly started accepting Bitcoin for payments. The El Salvadorian government has also purchased 200 BTC as part of a $150 million Fund earmarked to spur Bitcoin adoption.
Besides restaurants and the government, Bancoagrícola, El Salvador’s largest financial institution, has partnered with digital payments gateway Flexa to accept Bitcoin payments. As part of the agreement, Bancoagrícola’s customers will be able to make dollar-denominated credit card payments via Flexa or other Lightning Network-enabled wallets. The payments won’t attract any fees, and they will cover things like merchant goods, loans, etc.