Salvadorans disapprove of the implementation of bitcoin

A score of 4.61 on a scale of 1 to 10 was the evaluation that Salvadorans gave to bitcoin, according to the most recent survey by the University Institute of Public Opinion, of the Central American University (UCA).

“It is the most unpopular measure of the Nayib Bukele government, the most criticized and the worst evaluated,” said the rector of the Central American University, Andreu Oliva.

In mid-2021, the Bukele government approved the circulation of the popular cryptocurrencyarguing that this gave him the power to provide immediate solutions to the economic problems of Salvadorans.

One year passed, it has not been like that. The virtual currency crashed and its value fell to record lows. According to the survey, 77 out of 100 Salvadorans think that the measure has been a failure.

“For me, I think it was not a good idea, in fact, until now bitcoin has died, it is only on the beaches, where tourists arrive and use that currency, but that’s it,” explains Jesús Sánchez, a Salvadoran merchant.

It is estimated that the government of El Salvador has acquired 2,381 bitcoins with public funds, which would add up to more than 100 million dollars. However, there is no clarity in the data.

“In the implementation of bitcoin and in the way the regulation was also discussed, I think there was little transparency. This, well, in the end, I also think it could have caused more distrust in the population, ”says Laura Hernández, a lawyer specializing in technology.

The survey also revealed that 75% of Salvadorans have not used bitcoin to date, and only 3% said that their economic situation has improved with its use. Some people think that the idea was not bad at all.

“Perhaps if all the people continued to use it, it would have been a magnificent, excellent idea,” says Mirna Aguilar, a Salvadoran merchant.

The study reflects that the majority of Salvadorans believe that President Nayib Bukele should not continue spending public money to buy this currency.

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