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70% of El Salvadorians spoke out against the legalization of bitcoin

According to a poll by the Central American University, 70% of El Salvadorians do not support the adoption of a law to legalize bitcoin in the country.

During a study by Jose Simeon Cañas University of Central America surveyed 1,281 people in period from 13 to 20 August. Seven out of ten residents of El Salvador want the government to repeal the law that will make bitcoin legal tender starting September 7.

20% of the citizens surveyed do not trust Bitcoin, and 43% of the respondents believe that it destabilizes the economy of El Salvador. Only 17% showed an optimistic attitude, saying that bitcoin could improve the economic situation in the country.

The survey found that Chivo’s digital wallet and the $ 30 bitcoin giveaway did not generate much enthusiasm among citizens either. 65% of those surveyed answered that they were not going to use this wallet, and only 5.5% of Salvadorans showed interest in it. When asked whether the use of bitcoin should be mandatory for the population, the vast majority (96%) said it should be voluntary. Six out of ten survey participants strongly disagree with the government’s decision to spend the state budget on Bitcoin adoption in the country. More than half of the respondents believe that after the entry into force of the law on the legalization of bitcoin, food prices will rise dramatically.

In June, the World Bank refused to help El Salvador’s government integrate bitcoin into the country’s monetary policy due to environmental concerns that could be associated with mining and a lack of cryptocurrency transparency.

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