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El Salvador opposes bitcoin as legal tender

El Salvador opposes bitcoin as legal tender

The Salvadoran government has taken the decision to adopt bitcoin as legal tender. However, a poll shows that the majority of Salvadorans do not approve of this decision.

 

The study reveals that most of them do not know how to use Bitcoin and that many are distrustful of it, reveals the survey conducted by the University of Central America on Thursday. In fact, we learn that 82.8% of Salvadorans do not trust this digital currency.

 

“What we can see in this survey, in addition to this broad rejection of the implementation of bitcoin as a legal currency, is that for the first time we have found a significant disagreement between the population and the decisions made by the Legislative Assembly and the President,” said Andreu Oliva, dean of the University of Central America.

 

The poll was unveiled days before President Nayib Bukele formalised bitcoin as a legal currency in the country.

 

In addition, the poll shows that the majority of Salvadorans believe that the biggest beneficiaries of the arrival of bitcoin in the country will be the wealthy population, the government, investors and business leaders.

 

According to another poll conducted by the daily Prensa Grafica, 65.7% of respondents disapprove of the legalisation of bitcoin.

 

For the time being, the government has not yet officially reacted to this discontent, despite a demonstration by 300 opponents of this new reform on Wednesday 1 September. The government has justified the decision by talking about an objective to develop employment and the country’s economy, by making El Salvador less dependent on the US dollar, the current legal tender.

See Also

 

The bitcoin law is expected to be definitively adopted on 7 September in El Salvador.

 

Read also > TESLA MAY ACCEPT BITCOIN PAYMENTS AGAIN, SAYS ELON MUSK

 

Featured photo : © Press

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