Survey Reveals Negative Public Opinion on Bitcoin in El Salvador

21.10.2022 10:17 (Updated 25.10.2022 13:10)
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by Sviatoslav Pinchuk
1 min read

In September 2021, the government of El Salvador and its president Nayib Bukele, who is known for being an enthusiastic crypto proponent, made the news after introducing Bitcoin as a legal tender in the Central American country. However, according to a new survey conducted by the José Simeón Cañas Central American University, citizens of El Salvador aren’t exactly thrilled about this move.

Out of all respondents, only 24.4% have actually used Bitcoin to pay for products or services. And 95% of them haven’t noticed any positive changes in the quality of their lives since Bitcoin was introduced as a legal tender. According to the president’s portfolio tracker, the government of El Salvador has so far invested more than $107 million in purchasing Bitcoin. However, 77.1% of polled El Salvador residents believe that the government should stop using public money for this purpose.

For his part, Bukele sees cryptocurrency, among other things, as a way to attract tourists and foreign investors. Still, we most likely won’t be seeing the Bitcoin City project, proposed by Bukele in 2021 as a tax-free crypto haven.

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  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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