The Economist Survey Shows 37% Of Participants Want BTC Legalized

The Economist survey shows that about 37% of participants want their BTC legalized in their home countries and hope to see BTC as an official means of payment so let’s read more today in our latest Bitcoin news.

A new study by The Economist estimated that 37% of the participants want their government to declare BTC as a legal tender while CBDCs are also in favor, and 37% of the participants looking for legalization. The newspaper surveyed 3000 people across the USA, UK, South Korea, Australia, Singapore, and France, and other developing countries like South Africa, Brazil, Vietnam to determine their stance on crypto.

About 37% of the respondents said they support their government’s decisions when it comes to declaring bitcoin or other assets as an official payment method. 43% of them were neutral on the matter and 18% of them said they disagree with such a move. The results were similar in regards to CBDC and 37% of them believe the authorities should release this product, and 19% think it will be a mistake. The survey also touched on NFTs, and 60% of the participants considered buying, holding, or selling while 7% were against this idea.

The respondents were bullish on the DEFI space as well with 34% of them revealing intentions to use such application for personal or professional use and 17% of them said they had no plans to interact with it. It is safe to say that the COVID pandemic changed the trends in the payment network and most individuals chose crypto over cash. 18% of the participants expected their nations to become cashless in the next few years and 13% of them admitted using crypto as a form of settlement. The CEO of Episode Six John Mithcell predicted the future payment networks will be encompassed by new instruments and hinted that digital assets could play a huge role here.

Right after El Salvador entered the crypto space by declaring BTC as legal tender, other countries considered the same move. Research by YouGov revealed that 30% of the US residents will want to see BTC having the same status in their nation. Americans that reside in the West, however, were more supportive of this law while those in the Midwest opposed it the most. The harshest critics were over 55-year-old females while men were in favor of seeing BTC as a means of payment.