A recent survey has revealed that the majority of Salvadorans are not embracing Bitcoin as legal tender in their country. According to the survey conducted on October 10th by the San Salvador University Francisco Gavidia, 92% of respondents stated that they do not use Bitcoin for transactions. Only 7.5% admitted to using Bitcoin, while 0.5% chose not to answer the question.
These findings indicate a slight decrease in the use of Bitcoin in El Salvador. A previous survey by the University of Central America’s public opinion institute in 2023 found that 88% of Salvadorans did not use Bitcoin for transactions.
The survey, which interviewed 1,224 adult citizens of El Salvador, also asked about their main political and economic concerns. Approximately 60% of respondents expressed approval of President Nayib Bukele and believed that the country was heading in the right direction. However, only 1.3% of respondents believed that Bitcoin should be the main focus for the country’s future, with the majority emphasizing education and industry as the primary areas of focus.
President Bukele, who was elected in June 2019, has gained popularity for his controversial crackdown on organized criminal gangs, resulting in the imprisonment of about 1% of the country’s population. While this move was widely supported by Salvadorans, human rights advocacy groups criticized the lack of due process and mistreatment of those incarcerated.
In September 2021, Bukele made El Salvador the first country to adopt Bitcoin as legal tender and has since made efforts to attract foreign investment by offering Bitcoin “Freedom” visas and proposing the development of a Bitcoin City. Bukele, who began his second five-year term as president in June, aims to position El Salvador as a world leader in various industries, including crypto.