El Salvador became the first country in the world to adopt Bitcoin (BTC) as fiat currency in 2021, but the country’s opinion remains divided over digital currency even four months later.
On January 14, the University Public Opinion Institute at Centro America Nahosesimeon Kanyas University (UCA) in El Salvador released a report on the results of a poll on “what national citizens think about Bitcoin?”
The findings from the report are as follows:
- Only 14.1% of the population trust bitcoin whereas 13.2 percent have some confidence in it.
- 34.8% have no confidence in bitcoin and the remaining take the central position.
According to a survey, it is estimated that 22 per cent of the country’s population does not even know what Bitcoin is, let alone how to use it. The majority of respondents believed that the Bitcoin Act favors the wealthy, governments, foreign investors and entrepreneurs over the general public. Specifically, 25.6 percent believed that adoption has benefited the wealthy, 20.5 percent took government names, and only 10.9 per cent believed that adoption has benefited the general public.
In addition, about 60 percent of respondents of the program mentioned that Bitcoin has no impact on the country’s economic situation. Only 20 percent of respondents believed that the economy has improved, and 57.2 percent said it will not change. Nevertheless, expectations for the future are higher than in the past.
