Poll Result Suggests the Majority of Salvadorans Are Skeptical of BTC as Currency

According to a new survey, Nayib Bukele, the President of El Salvador, whose decision to make cryptocurrencies legal tender in his country has been met with skepticism by the majority of citizens. Almost half of those polled said they had no idea what Bitcoin was, and two-thirds said they weren't ready to be paid in cryptocurrency.

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President Bukele's crypto-friendly policies suffered a setback as poll findings released Thursday revealed that roughly 54% of Salvadorans believe that Bitcoin adoption is "not at all correct." Another 24% felt it's "just slightly correct." The government's crypto act received less than 20% approval. The survey was carried out by Disruptiva, which is linked with Francisco Gavidia University. Between July 1 and 4, the pollster contacted 1,233 people across the country, with a margin of error of 2.8 percent.

US Dollar has been the official currency of this Central American nation for years. The Congress, however, backed Bukele's drive for bitcoin adoption recently. The lawmakers approved legislation making Bitcoin (BTC) an official currency, making it the first in the world to do so.

Bukele has been advocating Bitcoin as a way to make it easier for Salvadorans living abroad to send money home. However, 46 percent of the country's population said they understood "nothing" about Bitcoin, according to the poll. Another 65% of those polled said they would not accept payment in cryptocurrency.

During a presentation of the survey's findings, Oscar Picardo, the director of Disruptiva's Institute of Science, Technology, and Innovation, said, "This is a risky bet on digital transformation."

Earlier, Fazzaco has reported that the Salvadoran Congress​ approved the bill making bitcoin (BTC) an "unrestricted" legal tender in early June. Since then, the unique decision has been met with concerns over how the crypto-friendly move will affect the country's economy.