Most Salvadorans sceptical of Bitcoin

Category: Americas Crypto

El Salvador’s ambitious move to make Bitcoin legal tender is rejected by the majority of citizens, survey says

Nearly 65% of Salvadoran citizens are not open to being paid in Bitcoin. Bitcoin wages are currently being tested, after Nayib Bukele announced the crypto to become legal tender in the country, next to the US Dollar. Despite the president enjoying high levels of approval in the country, according to the newspaper Disruptiva, their new survey on the currency decision sees widespread scepticism.

While the surprise announcement at the Bitcoin 2021 conference in Miami made global headlines, a long-term preparational campaign might have helped, since 46% of respondents stated to know “nothing” of the crypto.

The poll comprised of 1,233 Salvadoran citizens across the country and features an error margin of 2.8%. Only 20% of participants expressed full approval of the tender, while 54% viewed the institutional adoption as “not at all correct” and 24% as “only a little correct”.

So far, the implementation has not completed entirely, and with a transition of more institutions towards it, the popular attitude might change.

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