El Salvador’s citizens do not want to use bitcoin in transactions: over 90% of them do not pay with cryptocurrency. And this despite – let me remind you – the country’s government’s pro-Bitcoin policy.
El Salvador does not pay BTC
Salvadorans are not exactly thrilled with the government’s recognition of bitcoin as legal tender in their country. At least that’s what a new study shows. The University of San Salvador Francisco Gavidia survey in question shows that as many as 92% of El Salvador’s citizens do not transact using cryptocurrency. Only 7.5% of respondents said they use bitcoin to pay for products and services. In turn, 0.5% chose not to answer the question.
The latest results suggest a slight decline in bitcoin usage in El Salvador. A previous study by the University of Central America’s public opinion institute showed that 88% of Salvadorans have never used BTC for payments.
Bukele – yes, bitcoin… not necessarily
It is worth adding that the survey did not concern strictly bitcoin. The new study surveyed 1,224 adult Salvadoran citizens, asking them questions about what they believed to be the most pressing political and economic issues in the country. About 60% of respondents said that their country is going in the right direction and they support the policies of President Nayib Bukele.
However, supporting this politician is one thing, and believing that BTC will change their country is another. Only 1.3% of respondents said that bitcoin should be El Salvador’s future security. The majority indicated that the authorities should focus on education and economic development.
Bukele himself is currently ruling the country for a second term – despite the fact that the constitution of El Salvador prohibits the president from running for re-election.
The roots of Bukele’s policy date back to mid-2021. It was then that steps were taken to make El Salvador the first country in the world to recognize bitcoin as legal tender. It was part of a broader plan aimed at obtaining foreign capital, bypassing, among others, International Monetary Fund. So far, however, little has come of it, and the mentioned international institution is pressuring the government to take a step back regarding BTC.
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