Most Americans oppose CBDCs, study finds

Support for moving from cash to the central bank digital currency (CBDC) is held by nearly a quarter of Americans, while the majority oppose. This is reported in a Genesis Mining cloud mining service study.

Of 400 respondents, only 24.8% agreed to replace paper dollars with a digital one. 60% of respondents viewed the idea negatively. Compared with the previous survey, the picture is more positive: in 2019, the idea was supported by only 13.3% of respondents, while 76.2% opposed.

Analysts noted a high level of Americans’ familiarity with cryptocurrency. 87.3% of respondents had heard of or were aware of Bitcoin, of whom 35% regard it as an ‘interesting idea with potential’.

The opinion that cryptocurrency will someday replace the dollar was supported by 15.5% of respondents. Some called Bitcoin ‘a bad idea’ or an asset associated with the criminal underworld.

In a recent Bank of Canada linked investments in cryptocurrencies to a low level of financial literacy among the country’s residents.

Earlier, only 10% of Russian bank clients stated their willingness to invest in crypto assets. The rest preferred bonds, real estate, and foreign currency.

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