Recent Poll Shows El Salvador Residents Still Not Sold on Bitcoin – Bitcoin News from Emerging Markets

A recent poll completed by the Public Opinion University Institute, part of the Simeon Canas Centroamerican University, has found that El Salvador is still not attracted to the idea of ​​bitcoin as legal tender. The survey results indicate that almost two-thirds of the population have a negative impression of bitcoin, and only a quarter of Salvadorans have used the cryptocurrency.

El Salvador remains cold on Bitcoin adoption

While El Salvador made bitcoin legal tender last year, as the first country in the world to do so, Salvadorans are still not entirely sold on the idea of ​​introducing bitcoin as part of their economy. A recent poll presented by the Public Opinion University Institute, part of the Jose Simeon Canas Centroamerican University, has found that most of the country’s citizens reject bitcoin as part of the policy of the government of El Salvador’s president, Nayib Bukele.

The survey interviewed more than 1,260 people in person, who had direct contact with the citizens who agreed to participate in the study. 61.3% of respondents have a negative opinion of bitcoin, giving it a score of less than five points on a ten-point scale. The survey also recorded a low level of adoption among locals, with less than a quarter of respondents having used bitcoin once.

Bitcoin as part of Salvadoran public spending

While Salvadoran politicians have stated that the amount invested in buying bitcoin is not a significant part of the national budget, the citizens have shown that they reject the politics related to the management of these resources. 77.1% said the government must not continue to use public funds to buy bitcoin.

Disapproval of the integration of bitcoin as legal tender is also high, with 65.5% believing that this action has constituted a failure by the government.

However, the government has noted the importance of bitcoin adoption as an instrument capable of helping to restore other industries in the country. In August, President Nayib Bukele stated that bitcoin, along with crime reduction and surfing, was responsible for a rapid recovery of the tourism industry.

Bukele still has tremendous acceptance, with a recent Gallup Poll giving a reading of 87% approval. This has led to a possible election for the next presidential election, even as experts argue that the Salvadoran constitution has articles that prohibit a hypothetical re-election.

What do you think of the recent bitcoin vote in El Salvador? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, offering a different point of view on crypto success and how it helps the unbanked and underserved.

Image credit: Shutterstock, Pixabay, Wiki Commons