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More than 75% Salvadoran Distrust in Bitcoin as Fiat Money, Poll suggests

Mervyn Kwan   Jul 09, 2021 03:55 2 Min Read


   

A poll showed that more than three-quarters of Salvadorans are sceptical towards the implementation of Bitcoin across the country, according to Reuters, citing a survey released Thursday.

About 54% of people viewed the bitcoin adoption as “not at all correct”, another 24% described it as “only a little correct.”

In comparison, merely less than 20% of people agreed with the cryptocurrency plan implemented by the government.

“This is a risky bet on digital transformation,” Oscar Picardo said, head of Disruptiva’s institute of science, technology and innovation, speaking at an event to publish the survey results. Some critics even describe the so-called “Bitcoin law” in El Salvador rob the freedom of choice of its people.

This poll surveyed more than 1200 people across the country between July 1-4, conducted by the pollster Disruptiva, affiliated with Francisco Gavidia University.

The poll also showed that nearly 65% of the respondents said they would not open to pay in the cryptocurrency, while 46% of the respondents “nothing” about Bitcoin.

The “Bitcoin Law” approved and passed by Congress in El Salvador last month, becoming the first country worldwide to adopt cryptocurrency as legal tender.

El Salvador President Nayib Bukele actively promoted the application of Bitcoin. The government later announced Bitcoin would function, effective on September 7th, as another fiat money along with the U.S. dollar in the country.

To boost the legitimacy of Bitcoin and strive for more support from the public, the government even launched an airdrop campaign by providing $30 worth of Bitcoin incentives to all users who register to its e-wallet.

Meanwhile, the government is actively seeking assistance from the Central American Bank for Economic Integration (CABEI).


Image source: Shutterstock

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