Bobos & Wojaks

Get Rich Or Die Tryin

El Salvador’s President Giving Away $30 In Bitcoins To Every Citizen

The introduction of Bitcoin (BTC) as legal cash in El Salvador has prompted extensive debate in the crypto community, and two new studies have revealed that the vast majority of Salvadorans are unhappy with such a move. According to El Diario de Hoy and La Prensa Gráfica, citing a Central American University (UCA) survey of 1,281 people, 7 out of 10 Salvadorans believe National Deputies should repeal the Bitcoin Law.

 

According to the survey, ‘The Salvadoran population has an opinion on Bitcoin and the country’s socioeconomic position,’ 66.7 percent of the people want such a law to pass the National Assembly, which is scheduled to promulgate on September 7.

 

In fact, only 5.5 percent of those polled are ‘extremely interested’ in utilising an e-wallet called Chivo for this purpose. Furthermore, when questioned, ‘Should the Salvadoran population’s usage of Bitcoin be required or voluntary?’ It should be voluntary, according to 95.9 percent of those polled.

Furthermore, media reports reported that six out of ten Salvadorans ‘disagree or strongly disagree’ with the government’s plan to spend public funds on Bitcoin in El Salvador. “In terms of the impact of Bitcoin on the family economy that Salvadorans anticipate, more than half of the population, 54.3 percent, believes that the prices of basic basket products will rise with the approval of Bitcoin, and a third believes that the use of Bitcoin as legal tender will worsen their family economic situation,” El Diario de Hoy reported.

 

El Salvador’s President, Nayib Bukele, said in June that the government would distribute $30 in Bitcoins to every adult citizen in the Latin American country. They must, however, first download the El Salvador government’s official Bitcoin wallet application. Though the exact count of El Salvador’s adult citizens is uncertain, many believe it is in the 4.5 million range.