BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Survey shows 92% of Salvadorans avoid using Bitcoin for transactions

by Matoy
October 16, 2024
in Breaking News, Politics
A A
1
SHARES
Share on TwitterShare on Reddit
  • A recent survey revealed that only 7.5% of Salvadorans use Bitcoin for transactions, with 92% opting out.
  • Despite low Bitcoin use, 60% of citizens approve of President Bukeleโ€™s leadership and the countryโ€™s direction.
  • The survey highlights education and industry as key priorities for El Salvadorโ€™s future, not Bitcoin.

El Salvadorโ€™s population remains largely hesitant to use Bitcoin for daily transactions, with a new survey indicating that 92% of citizens have yet to adopt the cryptocurrency for payments. Conducted by the Francisco Gavidia University on October 10, the survey reached over 1,200 adults across the nation, showing that only 7.5% of respondents reported using Bitcoin for any financial exchanges.

This surveyโ€™s findings align with a previous poll by the University of Central America, which earlier in the year showed that 88% of Salvadorans were not using Bitcoin. The slight decline in adoption suggests that Bitcoinโ€™s role in the countryโ€™s economy has not grown since its introduction as legal tender in September 2021.

Public Support for Bukele Remains Strong Despite Low Bitcoin Adoption

Although Bitcoin transactions are uncommon, the survey demonstrated strong support for President Nayib Bukele, with around 60% of those polled expressing confidence in his leadership and the current direction of the country. However, when asked about the future, only 1.3% of participants believed Bitcoin should be the primary focus for national development. Instead, the majority preferred to see investments in education and industry.

Bukele, who was elected in June 2019, has gained both praise and criticism for his tough approach to organized crime. His efforts to combat gangs, which led to the imprisonment of roughly 1% of the population, are widely supported by Salvadorans but have drawn concerns from human rights groups regarding the treatment of prisoners.

Bitcoinโ€™s Future in El Salvador Remains Unclear

Since making Bitcoin legal tender in 2021, Bukele has continued to promote the country as a haven for cryptocurrency, with plans for a Bitcoin City and offering incentives for foreign investors. Despite these initiatives, the survey indicates that most Salvadorans do not see Bitcoin as a critical factor in their countryโ€™s long-term success.

While Bukele has just begun his second term as president, it remains to be seen how his administration will balance its efforts to expand the cryptocurrency sector with the publicโ€™s broader focus on more traditional areas of development like education and industry.

TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Trumpโ€™s $3.8 Trillion Tax Cut Bill Advances Amid Deficit Concerns: Here is the Truth
Crypto

Trumpโ€™s $3.8 Trillion Tax Cut Bill Advances Amid Deficit Concerns: Here is the Truth

May 21, 2025
Hester Peirce Slams SEC for Killing NFT Innovation: Confirms Many NFTs are NOT Securities
Crypto

Hester Peirce Slams SEC for Killing NFT Innovation: Confirms Many NFTs are NOT Securities

May 19, 2025
Everything We Know About President Trumpโ€™s Two Hour Phone Call with Vladimir Putin
Crypto

Everything We Know About President Trumpโ€™s Two Hour Phone Call with Vladimir Putin

May 19, 2025
Putin and Trump Agree to Start Ceasefire Negotiations Now
Crypto

Putin and Trump Agree to Start Ceasefire Negotiations Now

May 19, 2025
U.S.-China Trade Truce Under Strain Amid High Tariffs and Tensions: Here is the Truth
Crypto

U.S.-China Trade Truce Under Strain Amid High Tariffs and Tensions: Here is the Truth

May 19, 2025
Trump Says U.S. Will Unilaterally Set Tariff Rates Soon: What You Need to Know
Finance

Trump Says U.S. Will Unilaterally Set Tariff Rates Soon: What You Need to Know

May 16, 2025
Load More

Related News

XRP Rally Heats Up as Tariff Shock Fuels Crypto Demand: Is $20 XRP Possible in 2025?

XRP Rally Heats Up as Tariff Shock Fuels Crypto Demand: Is $20 XRP Possible in 2025?

May 22, 2025
SUI Flashes Bullish Signal: Here are the Buy and Sell Zones You Need to Watch

SUI Flashes Bullish Signal: Here are the Buy and Sell Zones You Need to Watch

May 21, 2025
Pi Network Is Heating Up, But Is the Controversy Over? Here is What You Need to Know

Pi Network Is Heating Up, But Is the Controversy Over? Here is What You Need to Know

May 21, 2025
Blackhole DEX by Alex Becker and EllioTrades: The Future Liquidity Hub for DeFi, GameFi, and AI Explained

Blackhole DEX by Alex Becker and EllioTrades: The Future Liquidity Hub for DeFi, GameFi, and AI Explained

May 21, 2025
Crypto Market Adds $133 Billion in a Day as Bitcoin Hits New All-Time High

Crypto Market Adds $133 Billion in a Day as Bitcoin Hits New All-Time High

May 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

ยฉ 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

ยฉ 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.