Survey Reveals El Salvador Citizens Aren’t Sure if They Should Support BTC as a Legal Tender

Survey Reveals El Salvador Citizens Aren’t Sure if They Should Support BTC as a Legal Tender

More than 50% of respondents living in El Salvador are not as eager as the president in accepting BTC as a legal tender.

Based on results from the last survey, up to 75% of Salvadorans do not totally agree with their president to make Bitcoin their legal tender.
Out of 1,233 people interviewed from July 1 to July 4, not even up to a quarter thought the president’s plan was needful.

The survey was organized and implemented by Disruptiva, which was aided by Francisco Gavidia University. From Reuters’ findings, twice as much as those that think the plan makes little sense feel it is absolutely unnecessary.

About 46% of the respondents confessed they lacked knowledge about how to explain or even define Bitcoin while 65% did not say if they preferred their salaries in BTC or not.

According to Oscar Picardo of Disruptiva, the outcome of Bitcoin’s adoption as a legal tender in El Salvador is unclear.

The president approved that Bitcoin should be the country’s legal tender on June 9 so plans are being made to get the ball rolling on September 7.

As part of the plans being rolled out to begin the new phase, the government introduced a BTC wallet known as Chivo though it stated that it wasn’t going to enforce any particular type. However, Salvadorans were encouraged to choose that one because it doesn’t charge fees for payment transfer or conversion to USD. Towards the end of June, the president also promised to give anyone that downloads the app $30 free of charge.

President Bukele said his reasons for the Bitcoin adoption include ease of paying remittances from Salvadorans staying abroad and the need to discontinue using the USD as their national currency.

More than two-thirds of Salvadorans don’t have bank accounts but with the outcome of this survey, Bitcoin adoption doesn’t seem to be a solution to the problem.


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