• Sun. Jul 14th, 2024

New Survey Reveals Over 50% Of El Salvador Residents Are Still Skeptical Of President’s Decision About BTC

Phillip Seefeldt

ByPhillip Seefeldt

Jul 14, 2021

Over 50% of the citizens in El Salvador that had taken part in a recent survey indicated that the idea of fully adopting Bitcoin (BTC) is not a prospect that most Salvadorans would be keen on. As per the information provided via the results of this survey, nearly 75% of El Salvador’s people remain a bit skeptical regarding President Bukele’s recent decision to consider Bitcoin as legal tender.

El Salvador had made history when it became the very 1st country in history to completely legalize Bitcoin, which has since prompted similar action (or at the very least, the consideration of it) by other nations such as Paraguay and Bolivia.

The survey

The survey had involved the participation of over 1,000 people from all across the country and had been administered between the dates of July 1st to July 4th. Shortly after the survey had been concluded, it was revealed that a measly 20% of the overall participants had shown support for the Bitcoin legalization plans, hardly an encouraging figure for the local and international crypto communities.

There was only a margin for error of below 3% in the survey, which had been carried out via researcher Disruptiva, who is also affiliated with El Salvador’s Francisco Gavidia University. As such, it was discovered that just over 50% of the country’s individuals thought that the plan to adopt Bitcoin was not sound, claiming that the initiative was essential ‘not correct at all. Another 24% had viewed it as being ‘somewhat correct’. Furthermore, 46% of the participants had shown a distinct lack of knowledge regarding Bitcoin and admitted to not knowing much about it at all. Finally, of these, 65% had agreed to the idea of possibly receiving salaries in Bitcoin or some form of digital currency in the future.

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President Bukele remains positive about Bitcoin

The country’s leader, Nayib Bukele, had nevertheless defended his recent actions, adding that there will not be any fees incurred on wallets, nor will there be any commissions as far as transfers may be concerned. No cut will be taken for the purposes of converting Bitcoin to USD either.

President Bukele had even introduced a new incentive-based initiative when he stated that all adults who have successfully downloaded the official wallet application, known as ‘Chivo’, will be entitled to receive $30 in BTC through an airdrop.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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