One week before BTC became the legal currency in El Salvador, the government of El Salvador published on August 30 the first ever advertisement for BTC produced by the national government.
Advertisement for BTC
Catchy advertising importantly points out that the use of BTC is not mandatory, so residents will still be able to receive or pay in dollars or Bitcoins.
You can see the ad here:
This Central American country will indeed be the first in the world to adopt BTC as legal tender and to circulate alongside the US dollar as the country’s official currency.
The BTC Act, which was passed by the Legislative Assembly by a strong pro-government majority and will enter into force on 7 September, stipulates that any “economic operator must accept Bitcoin as a form of payment”. However, President Nayib Bukele has indicated that its use will be voluntary.
Skepticism of the Salvadorans
Despite Bukele’s attempts on social media to promote BTC and attack the opposition, cryptocurrency is not popular with most Salvadorans, according to a university survey.
A study by the Center for Civic Studies at Francisco Gavidio University found that 25% of respondents thought the choice was not very good and 53.5% thought it was not good. On the contrary, 12.9% considered it excellent and 6.5% very good.
According to the survey:
“When consulting with respondents about whether the government’s proposal to introduce BTC as legal tender is correct, 53.5% of the population said no, and only 12.9% believe it was the right decision.”
It is interesting to see the contrast between El Salvador and other countries. How do you think Salvador will fight BTC, will it work?