Will US Make Bitcoin Legal Tender

by Sep 16, 2021Bitcoin Adoption Worldwide0 comments

Will U.S. make Bitcoin legal tender?  And what do other continents such as Asia and Europe feel about cryptocurrencies?  Unfortunately, the USA is falling behind in the cryptocurrency world.

the rest of the world leads in bitcoin adoption

Asia has the highest adoption rate.  Vietnam leads with 41% claiming they own cryptocurrencies.  Following behind Vietnam is Indonesia (30%), Malaysia (29%) and the Philippines (28%).  

Europe is doing just-ok.  Belgium is at 26% with Italy and Netherlands running close behind them. Germany, on the other hand, is at a slow 11% adoption rate.  The United Kingdom is only at 8% ownership of cryptos. El Salvador just made Bitcoin legal tender. And now Ukraine made it legal too.  But will the US make Bitcoin legal tender? Let’s see.

younger generation in USA leads in bitcoin

But when will it become legal tender in the United States? Or will it ever?  In a YouGov poll of just under 5000 individuals, those over the age of 55 were most opposed to it.  While those in the age range of 25-34 supported Bitcoin the most.

Is there a difference between men and women when it comes to Bitcoin ownership? Across the globe, men tend to be more into cryptocurrencies than women.  In the US, 12% of men own cryptos while women own only 6%. And younger Americans are the most likely to own cryptos. Those in the age group of 25-34 years of age own the most (14% ownership).  Right below them are ages 18-24 years of age (13%).  And the last group owning it in the US is 35-44 (13%).

Out of 27 countries, only 9% of Americans report that they own cryptos.  The global average is 19%. Will U.S. make Bitcoin legal tender?  It’d say it might be another 5 to 10 years before Bitcoin becomes a common word heard around the dinner table.