Survey: More Than 70% of Salvadorans Believe the Bitcoin Law Has Not Improved Their Personal Finances

A recent survey has offered some insight into the real opinions Salvadorans have about the implementation of the Bitcoin Law in the country. The survey, carried out by the University Institute of Public Opinion of the José Simeón Cañas Central American University, found that most Salvadorans believe the inclusion of bitcoin as legal tender, through the approval of the Bitcoin Law last year, has not improved their personal economic situation.

Salvadorans Disregard Bitcoin’s Importance to Their Finances

The inclusion of bitcoin as legal tender in their country and all the changes that the Bitcoin Law has brought about are still not seen as beneficial by most Salvadorans according to a recent survey. The study, carried out by the Institute of Public Opinion of the José Simeón Cañas Central American University, published on July 2, has revealed some facts about the negative vision that citizens of the country have on this subject.

When asked about which benefits the Bitcoin Law, which approved the use of bitcoin as legal tender in the country, had brought to the familiar economy of Salvadorans, 71.1% of the 1,272 citizens surveyed answered that it had brought no benefits at all for them. 12.8% believed that this measure had brought few benefits to their economic situation, while 8.9% are sure that the Bitcoin Law brought at least some benefits to their personal finances.

Only 6.1% answered that bitcoin had brought a lot of benefits to them.

More Bitcoin Data

The survey also delved into the opinion that the Salvadoran people have about the relationship between the management of President Nayib Bukele and bitcoin in the country. The appreciation of Bukele in the country is still very good, with 68 of each 100 Salvadorans stating that the government has been managing things well in the third year of its mandate.

While most Salvadorans did not identify any failure in the government of Bukele, the approval of the Bitcoin Law and the investments that President Bukele has made purchasing bitcoin were second in the items identified as failures, with 3.9% of the surveyed identifying them negatively.

Another completely different survey carried out by the Center for Citizen Studies of the Francisco Gavidia University reported similar results last month, with more than half of the Salvadorans surveyed disagreeing with the approval of bitcoin as legal tender and having a preference for the dollar.

What do you think about the opinion that Salvadorans have on bitcoin and the Bitcoin Law? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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