77.1% of Salvadorans surveyed think the government should “stop spending public money” on Bitcoin
Less than 40% of respondents said they support approving Bitcoin as legal tender.
New
In a recent study published by José Simeón Cañas University of Central America in El Salvador, 77.1% of respondents say they want the Salvadoran government to stop "spending public money on bitcoin" .
Furthermore, only 24.4% of respondents say they have used Bitcoin (BTC) as a form of payment since the country's government recognized it as legal tender last year.
The survey, conducted by the private but not-for-profit Central American University, asked local Salvadoran residents about their views on Legislative Decree No. 57, which recognized Bitcoin as legal tender in El Salvador on September 7 2021. A total of 1,269 valid interviews were collected in September 2022, with a reported margin of error of 2.75% over a 95% confidence interval.
Although there is no direct causal link between the adoption of Bitcoin and the country's economic situation, 95% of respondents say that their lives "stayed the same" or "[did] is] aggravated" since Bitcoin became legal tender. The country's president, Nayib Bukele, is famous for his Bitcoin campaign which sought to attract tourism and foreign investment. Last year, Bukele proposed founding a "Bitcoin City" where nominal tax rates are set at 0%, with construction funded by a $1 billion Bitcoin "Volcano Bond".
The politician and blockchain personality is also known for publicizing the repeated purchases of BTC with the country's national budget. The Salvadoran government has
Less than 40% of respondents said they support approving Bitcoin as legal tender.
New
In a recent study published by José Simeón Cañas University of Central America in El Salvador, 77.1% of respondents say they want the Salvadoran government to stop "spending public money on bitcoin" .
Furthermore, only 24.4% of respondents say they have used Bitcoin (BTC) as a form of payment since the country's government recognized it as legal tender last year.
The survey, conducted by the private but not-for-profit Central American University, asked local Salvadoran residents about their views on Legislative Decree No. 57, which recognized Bitcoin as legal tender in El Salvador on September 7 2021. A total of 1,269 valid interviews were collected in September 2022, with a reported margin of error of 2.75% over a 95% confidence interval.
Although there is no direct causal link between the adoption of Bitcoin and the country's economic situation, 95% of respondents say that their lives "stayed the same" or "[did] is] aggravated" since Bitcoin became legal tender. The country's president, Nayib Bukele, is famous for his Bitcoin campaign which sought to attract tourism and foreign investment. Last year, Bukele proposed founding a "Bitcoin City" where nominal tax rates are set at 0%, with construction funded by a $1 billion Bitcoin "Volcano Bond".
The politician and blockchain personality is also known for publicizing the repeated purchases of BTC with the country's national budget. The Salvadoran government has
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