Only 27% of El Salvador's population trusts bitcoin

El Salvador became the first country in the world in 2021 to adopt bitcoin as legal tender. The University Institute of Public Opinion of the Universidad Centroamericana José Simeón Cañas (UCA) in El Salvador, released a report on January 14 of the results of a survey on what citizens of the country think about bitcoin. In all, 14.1% have total confidence in bitcoin, 13.2% have some confidence, 34.8% have no confidence and the remaining population is uncertain. It is also estimated that 22% of the country's population doesn't even know what bitcoin is.

According to the survey results, the vast majority of respondents believe that the bitcoin law favors the wealthy, the government, foreign investors and entrepreneurs, more than the general public. In particular, 25.6% believe it has benefited the rich and 20.5% the government, with only 10.9% believing that adoption has benefited the general public. It can be shown that 6 out of 10 residents are against or strongly opposed to the government spending more than 70 million dollars in public funds to buy bitcoin or to increase the use of BTC in the nation. Overall, respondents stressed that the use of bitcoin in the nation should be voluntary and not made mandatory.