Most of the citizens from El Salvador are opposing the decision of the Government for bitcoin adoption as a legal tender in the country. The Government of El Salvador decided against adopting bitcoin as a legal tender along with the US Dollar.
The local university of El Salvador Central American University started a poll on this matter. It showed that at least 67.9% of people out of 1281 disagree with the use of Bitcoin in the form of a legal tender.
Only more than 32% of the survey participants said that they agree with the decision of bitcoin adoption to some extent.
The study took place just days before the bitcoin adoption became effective on September 7 at Salvador. The poll started in August. It has shown that nine out of 10 people do not have a clear understanding of bitcoin. On the other hand, 8 out of 10 have no confidence in using it. 7 out of 10 said that they believe lawmakers must repeal the law of turning bitcoin into a legal tender.
Central America university dean Andreu Oliva said the survey shows “broad rejection of the implementation of Bitcoin as legal tender.” Also, it is suggestive of the disagreement of the population with the decision that the Legislative Assembly and residents have made.
Most of the survey participants are thinking that this measure will impact in a much positive manner the wealthy, government, foreign investors, and business leaders. Oliva also noted that there is much concern about the negative effects of the use of Bitcoin. Also, the International Monetary Fund criticized the decision of El Salvador.
It has compared Bitcoin as an advisable shortcut compared to its digital currency. The government took this decision to improve the GDP growth of the country and to make bitcoin accessible for the citizen. However, it does not say that the citizens are very happy with this idea.