Majority of Salvadorans Skeptical of BTC as a Currency, Poll Results – Bitcoin News
The introduction of cryptocurrency as legal tender in his country by President Nayib Bukele does not meet with deep understanding among most of his compatriots in Salvador, as a new survey shows. Almost half of the respondents admitted they knew nothing about Bitcoin, while two-thirds are not ready to be paid in crypto.
Bitcoin introduction “not right at all”, say half of Salvadorans
As a blow to President Bukele’s crypto-friendly policies, poll results released Thursday showed that around 54% of people in El Salvador saw the introduction of Bitcoin (BTC) as “not right at all”. Another 24% said it was “just a little bit right”. Less than 20% fully agreed to the government’s crypto move.
The poll was conducted by Disruptiva, which is affiliated with Francisco Gavidia University, Reuters reported. The pollster reached 1,233 people in the Central American nation between July 1st and 4th, and the study has a 2.8% margin of error.
El Salvador has used the US dollar as its national currency for years, but last month Congress backed Bukele’s push to adopt the cryptocurrency. Legislators approved laws giving Bitcoin (BTC) official currency status in the country, which it was the first to do in the world.
President Bukele has also promoted Bitcoin to facilitate transfers from Salvadorans living abroad. However, the survey found that a large part of the country’s population, 46%, knew “nothing” about the cryptocurrency. And another 65% of respondents said they weren’t ready to get paid in crypto.
During an event where the results of the survey were presented, Oscar Picardo, director of Disruptiva’s Institute of Science, Technology and Innovation said:
This is a risky bet on digital transformation.
Supporters of 39-year-old Nayib Bukele in the Salvadoran Congress approved the bill that will make Bitcoin (BTC) an “unrestricted” legal tender in early June. Since then, the unique decision has raised concerns about how the crypto-friendly move will affect the country’s economy.
The IMF warned of “a number of macroeconomic, financial and legal problems” while the World Bank refused to support El Salvador with the technical implementation of the cryptocurrency. Last week the US State Department asked the President to make sure Bitcoin is “well regulated”.
What do you think of the results of the Disruptiva survey? Do share your thoughts on the matter in the comments below.
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