More than half of the respondents know about bitcoin but do not back up its use as a payment method. The Salvadoran people have little knowledge about how digital assets work.
The Francisco Gavidia University (UFG), a private university based in San Salvador, led a survey to determine what the citizens of that nation think about bitcoin as a form of payment. The results presented that, out of ten Salvadorans, six are against the move of the Nayib Bukele’sBukele’s administration to accept bitcoin as a second national asset.
The survey got held between May 11 and 15, 2021, through house-to-house visits. Of the 1,306 Salvadorans surveyed by the university, 62.3% had shown disagreement with the use of bitcoin as a second asset in El Salvador. In contrast, 23.7% of those surveyed support the decision, and 11.2% still doubt whether it was a correct move.
The Salvadoran study house revealed the results this May 25 through the official account of Disruptiva, a publication of the Institute of Science, Technology, and Innovation of the university.
Among the questions addressed in the survey is the one that investigates which representation is closest to the concept of bitcoin for the respondents. 73.50% see it as a virtual asset. Another question asked if they would be willing to receive their salary based on bitcoin, and 64.8% expressed their disagreement.
Knowledge about Bitcoin Depends on Educational Level
The report presents that the responses of the Salvadoran people are highly attached to the age. Under this situation, most people over 65 tend to believe that bitcoin is a “metal currency,” claiming “they don’t know what it is.”
While people ranking between 30 and 39 years old get divided between defining it as a “metallic currency” or “virtual currency,” people between 18 and 29 years old are the ones who best identified it, pointing it out as a “virtual currency.” On the other hand, citizens between 40 and 55 are moderately between “metallic currency” and virtual currency.”
The report highlights that education has heavily influenced people’s thoughts about cryptocurrencies, especially bitcoin.
In the case of the question, “do you consider the administration’s proposal to establish bitcoin as legal tender correct?” Those who described it as a wise decision were primarily citizens with a university education.
On the other hand, people with high school studies thought it was an unwise decision, and those with only a primary or third cycle education said it didn’t get accepted at all.
By. Jenson Nuñez
