El Salvador’s government was hoping for a higher rate when it introduced the bill in September that would have BTC legal tender. However, a recent survey has highlighted the challenges faced by the government in promoting adoption of Bitcoin. Despite 75% of Salvadoran youth not currently using Bitcoin for transactions, President Nayib Bukele receives an average evaluation score of 8.43 out of 10 regarding his presidential work.
The National Assembly received a score of 6.94. The survey conducted was on 1,224 young people between the ages of 18 and 29, with 71% living in suburban areas and full-time work. The vast majority of respondents were optimistic about El Salvador’s future and the country’s financial situation. Cryptonoticias, a Spanish-language medium, noted that “adoption of Bitcoin among Salvadorans hovered around the 20% level.” A similar study published by the UCA in January 2022 reported a BTC acceptance rate of over 10%.
However, this represents a drop from surveys conducted in 2021 and 2022. Despite the challenges, Bitcoin is gaining traction in certain sectors in El Salvador, such as tourism which has increased by 35% since 2019.
