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Home›Russian currency›Large Salvadoran majority skeptical of bitcoin as standard currency

Large Salvadoran majority skeptical of bitcoin as standard currency

By Lawrence C. Saleh
July 8, 2021
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A representation of the Bitcoin virtual currency can be seen in front of a stock chart in this illustration taken on March 15, 2021. REUTERS / Dado Ruvic / Illustration / File Photo

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SAN SALVADOR, July 8 (Reuters) – In a snub to Salvadoran President Nayib Bukele, more than three-quarters of Salvadorans are skeptical of the maverick leader’s pressure to adopt bitcoin cryptocurrency as a parallel legal tender, poll finds released Thursday.

In a first for bitcoin last month, Bukele’s allies in Congress approved legislation giving it official currency status in the small Central American nation, a move no other country has made. Bukele introduced the adoption of bitcoin as a way to facilitate remittances for Salvadorians living abroad.

El Salvador has used the US dollar as its national currency for years.

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Conducted by Francisco Gavidia-affiliated pollster Disruptiva, the survey showed that around 54% of people considered bitcoin adoption “not at all correct” while 24% described it as “somewhat correct. “.

Not quite 20% approved of the cryptocurrency plan.

The poll interviewed 1,233 people across El Salvador between July 1 and July 4 and has a margin of error of 2.8%.

“It’s a risky bet on digital transformation,” Oscar Picardo, director of the Institute of Science, Technology and Innovation at Disruptiva, said at an event showcasing the results of the survey.

The poll also showed that 46% of those polled knew “nothing” about bitcoin, while nearly 65% ​​said they would not be willing to be paid in cryptocurrency.

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Reporting by Nelson Renteria; Writing by David Alire Garcia; Editing by Sandra Maler

Our standards: Thomson Reuters Trust Principles.


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