Survey Reveals 92% of Salvadorans Do Not Use Bitcoin for Transactions

Only 7.5% of Salvadorans use Bitcoin for transactions, while 92% admit they do not, according to a survey report. 

The study was conducted by the Francisco Gavidia University among 1,224 citizens over the age of 18. 

In 2021, El Salvador recognized Bitcoin as legal tender alongside the US dollar. Businesses are required to accept the cryptocurrency for payment if they have the technical capability. 

Subsequently, the country’s president, Nayib Bukele, announced purchases of digital gold, mining, and other Bitcoin initiatives. 

In August 2024, he stated that the legalization of Bitcoin yielded mixed results, with the currency not gaining widespread acceptance.

Only 1.3% of respondents believe that the first cryptocurrency should be the “main bet” for the country’s future. 

58% of respondents support the government’s and the current president’s policies. Previously, the country was the most violent in the Western Hemisphere. Bukele initiated a crackdown on criminal gangs, with authorities imprisoning about 2% of the population. 

In June, Bukele proposed the creation of a bank for Bitcoin investors.