More than half of El Salvadorans still prefer the dollar to bitcoin as legal tender, a recent survey by the Center for Civic Studies at the University of Francisco Gavidia, a private institution in El Salvador, found. Eight months after it was approved as legal tender, Bitcoin, promoted by El Salvadoran President Nayib Bukele, has largely been unpopular with the populace.
El Salvadorans Still Not Sure Bitcoin Is Legal Tender
Citizens of El Salvador are still unsure about the use and adoption of Bitcoin as legal tender in the country.a new one polls A survey conducted by the Center for Civic Studies at the University of Francisco Gavidia found that more than half of El Salvadorans (62.3%) surveyed disagreed with Bitcoin as legal tender, preferring the U.S. dollar.
The survey, which included 1,306 interviews nationwide, was designed to gauge perceptions of El Salvador’s President Nayib Bukele’s state management. It also revealed that only 23.7% support the movement to adopt Bitcoin and cryptocurrencies in the country, while just over 11% are skeptical of one of them.
For some experts, bitcoin adoption has been one of the biggest problems for Bukele, with people often having doubts about accepting bitcoin as a payment method. 43-year-old juice vendor Doris Ponce, Tell Earlier this month, Politico stated:
People don’t want that money yet. Maybe when the dollar disappears.
Bitcoin and Booker
El Salvador has also been investing in Bitcoin, with Bukele having bought over 2,300 bitcoin Since the passage of the Bitcoin law last year. However, these investments did not work well for the country, and agencies such as Moody’s lowered the country’s credit score due to the lack of transparency of these purchases, as there were no public announcements about the investments other than Bukele’s tweet.
The International Monetary Fund (IMF) is Serving Work with the country to provide technical assistance in bitcoin adoption, even as the group has repeatedly told government officials to give up bitcoin’s new status as legal tender.
However, according to the same survey, Salvadorans still have a very positive view of the president’s image. Bukele’s management of the country scored 8.34 out of 10, indicating that Salvadorans separate the Bitcoin issue from Bukele’s other actions on other matters.
What do you think of the latest survey on Bitcoin adoption in El Salvador? Let us know in the comments section below.
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