Nearly Half of Gen-Y Says Ban Bitcoin

Nearly Half of Gen-Y Says Ban Bitcoin
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NEW YORK (InsideBitcoins) — Young adults, aged 18-29, generally encompassing the generation known as Millennials, favor marijuana legalization, free markets and the Democratic party but when it comes to Bitcoin, nearly half say it should be prohibited. That’s the surprising conclusion of a just-released survey conducted by the Reason Foundation, a libertarian non-profit think tank.

Fully 45% of Millennials, also known as Gen Y, believe the cryptocurrency should be prohibited. But even at that, they are considerably more in favor of Bitcoin than all Americans over 30. In a survey fielded last spring, only about one-third (34%) of those 30 years old or older thought the government should allow people to use Bitcoin — while 49% said it should be prohibited.

In contrast, 45% of Millennials think Americans should be completely allowed to use marijuana — 20% say users should only have to pay a fine.

While support for Democratic presidential candidates has hovered around 48% among Americans over 30 for the past ten years, Millennials are much more enthusiastic for the party. In 2000, 48% of 18-29 year olds cast their vote for Al Gore, but by 2008, 66% voted for Barack Obama, as did 60% in 2012.
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