Despite the enthusiasm with which President Nayib Bukele presented his ambitious proposal, the balance is not very encouraging.
A little over a year after El Salvador declared bitcoin as its second legal tender, the vast majority of the population disapproves of the implementation of this economic policy promoted by the Government of Nayib Bukele.
A survey carried out by the University Institute of Public Opinion (IUDOP), of the Jesuit Central American University José Simeón Cañas (UCA), revealed that 61, 3% of the population disapproves of the government’s decision to implement bitcoin as legal currency, compared to a 38, 5% that approves the measure.
In addition, one year after the entry into force of the Bitcoin Law, the 65, 5% rate their app as a “failure”, compared to just one 16, 5% who consider the policy a “success”.
The results are not a single rpresa, since a previous survey carried out last year by the same institute warned that 71 decade 100 Salvadorans were only interested in using dollars to make transactions, despite the fact that the country had authorized bitcoin as the second local currency.
A year later, the figure is revealing: 76 decade 100 Salvadorans declare “that have not used bitcoin to make purchases or payments so far this year 2022″.
This has not been an easy year for the Bukele government. Despite the enthusiasm with which the president presented his ambitious commitment to bitcoin, the balance is not very encouraging: the cryptocurrency has suffered significant losses in the price, directly impacting the public coffers; the issuance of the so-called ‘Volcano Bonds’ has been delayed; and there is a cloak of opacity in how the State has handled the acquisition of these digital assets.
For this reason, the UCA survey details that 65 decade 100 Salvadorans disagree with Bukele’s decision to continue spending public money to buy bitcoin, which explains that 77 decade 100 reject that the Executive allocate a budget for this purpose.
“These results show that the Salvadoran population has a very critical opinion towards this economic policy promoted by the current government and towards the government decisions that have been taken to promote it in the country”, specifies the report.