El Salvador has always been a renowned name in the crypto world. It has tried to be progressive and crypto-favoring through the years; however, a study on the country suggests contrary results.
Nayib Bukele, the president of El Salvador, has been a pro-crypto since the start. Last year it became the first country to announce Bitcoin as a legal tender; however, according to a recent survey, Salvadorans still need to be convinced of the inclusion of Bitcoin as a part of their economy.
A study conducted by the Public Opinion University Institute, which is a part of the Jose Simeon Canas Centroamerican University, suggests that the citizens of El Salvador wish to reject Bitcoin, terming it as a political agenda of the Bukele’s government.
Around 1260 participants were involved in the study, of which 61.3% registered a negative attitude towards Bitcoin by marking it lower than five on a scale of 10. It also reported low levels of adoption among locals, with less than a quarter of participants having even used Bitcoin.
Earlier this month, around 77% of the country’s population voted against the government’s use of public funds to purchase Bitcoin in response to the government’s claims that the purchase of Bitcoin doesn’t constitute a significant part of the national budget, as reported by Todayq.
The citizens also rejected the idea of integrating Bitcoin as a legal tender, with around 65.5% believing that the action constituted a government failure. However, the nation’s government has stressed that Bitcoin adoption is essential for development.
In August, Bukele claimed that, alongside crime reduction, Bitcoin would also help the tourism industry flourish. He still has loyal support, with a poll of about 87% approval, increasing the chances of his candidature for the next presidential elections.