According to the survey, most Salvadorans do not share the same enthusiasm for the BTC as a currency as the rest of the world
2 min readA new poll suggests that the acceptance of the cryptocurrency by President Nayib Bukele as legal tender in his country is not very enthusiastic among Salvadorans. Almost half of the respondents admitted that o BTC they know nothing, while two-thirds do not want to be paid in the cryptocurrency.
Adopting BTC “not at all correct” says salvadorans
Responses to President Bukele’s cryptocurrency policy showed a poll released on Thursday that some 54 percent of people in El Salvador considered BTC to be “not at all correct.” Another 24% said it was “only a little correct”. Less than 20% fully approved the government’s crypto move.
The survey was conducted by Disruptiva, an affiliate of Francisco Gavidia University, Reuters reported. The survey addressed 1,233 people in the Central American nation between July 1 and 4, and the study has an error rate of 2.8%.
Salvador has been using the US dollar as its national currency for years, but last month Congress backed Bukele’s pressure to adopt the cryptocurrency. Lawmakers have approved legislation that gives BTC official currency status. She was the first in the world to do so.
President Bukele also promotes BTC as a way to facilitate remittances to Salvadorans living abroad. However, the survey indicated that a large part of the country’s population, 46%, knew “nothing” about the cryptocurrency. And another 65% of respondents said they were not willing to be paid cryptocurrently.
Oscar Picardo, head of the Institute for Science, Technology and Innovation at the Disruptive, said:
“This is a risky bet on digital transformation.”
Supporters of 39-year-old Nayib Bukele at the Salvadoran Congress approved a bill in early June that made BTC “unrestricted” legal tender. Since then, the unique decision has been met with concerns about how the cryptocurrency will affect the country’s economy.
The IMF warned of “a number of macroeconomic, financial and legal issues,” while the World Bank refused to assist El Salvador in the technical implementation of the cryptocurrency. Last week, the State Department called on the president to ensure that BTCs were “well regulated.”
What do you think about the results of the Disruptive survey?
