The Central American country, El Salvador, became the first country to accept Bitcoin as its official currency about a year ago. Although the country’s president, Nayib Bukele, has many policies regarding cryptocurrencies, it seems that the digital currency revolution has not reached the people of Salvador.
Central American University academics have prepared a research report on Salvador and Bitcoin. Despite the fact that Bitcoin is the official currency in the country, the responses from the public are very interesting.
The researchers concluded that three-quarters of the Salvadoran people still do not adopt Bitcoin, despite the passing of a year. While most of the respondents do not support Bitcoin, he thinks that President Bukele should stop buying BTC.
Andreu Olivia, President of Central American University, summarized the research as follows: “The citizens of El Salvador are not very fond of the government’s crypto policy. This is the most criticized issue.”
Why Is Bukele Investing In Bitcoin?
The research in the news is not the first to show that the Salvadoran public is still not adopting crypto. Everyone knows that the citizens of El Salvador do not pay enough attention to the Chivo wallet in particular. However, chairman Nayib Bukele continues his investments in Bitcoin at full speed.
El Salvador is a country that plays a big role in the flow of money in the region. Remittances account for a quarter of the country’s GDP. President Bukele is aware that cryptocurrencies have advantages in this regard. The government’s crypto investment also contributes greatly to the country’s tourism.