In October 2024, a survey conducted by the Francisco Gavidia University showed that 92% of El Salvador's citizens do not use Bitcoin for transactions, despite the cryptocurrency being legal tender since 2021.
The survey highlights the low adoption rate of Bitcoin, with only 7.5% of respondents saying they use it. This disconnect between government policy and public behavior raises questions about the effectiveness of El Salvador's efforts to integrate cryptocurrency into everyday life.
At the same time, President Bukele’s crime-fighting policies remain popular, despite concerns about human rights abuses.
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92% of Citizens Do Not Use Bitcoin
A recent survey conducted by the Francisco Gavidia University (UFG) in El Salvador revealed that 92% of respondents do not use Bitcoin (BTC) for transactions. While Bitcoin was adopted as legal tender in the country in September 2021, its use among citizens remains minimal.
According to the UFG's survey results published on October 10, 2024, only 7.5% of participants said they use Bitcoin for transactions. A small 0.5% did not respond to the question.
This data highlights a significant gap between the government's efforts to promote cryptocurrency and the actual adoption rate among the population.
Decline in Bitcoin Users?
In comparison, a previous survey conducted by Central American University in 2023 showed that 12% of Salvadorans had used Bitcoin for transactions at least once. This suggests a slight decrease in the percentage of citizens using Bitcoin in the past year.
The recent UFG survey also analyzed public opinions on El Salvador's political and economic situation. Approximately 60% of respondents had a positive view of the country's direction, showing strong support for President Bukele.
However, the importance of Bitcoin appears to be minimal, with only 1.3% of respondents considering it crucial to the country's future. The majority believe that education and industrial development should be prioritized instead.
President Bukele's Policies
President Bukele, who took office in June 2019, has prioritized the fight against organized crime. His administration's crackdown has resulted in the imprisonment of about 1% of the population, a harsh measure that has gained support from many citizens seeking improved security.
However, this policy has raised concerns in the international community, with human rights organizations criticizing the lack of due process during arrests and detentions.
There have also been reports of abuse towards those imprisoned, further sparking international debate over potential human rights violations.
While Bukele's tough approach to crime has garnered domestic approval, his Bitcoin legal tender policy appears to have failed to resonate with the majority of the public.
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