- Only 7.5% of Salvadorans use cryptocurrencies, while 58% strongly support President Nayib Bukele.
- 66.8% of respondents pointed to rising food costs as their biggest financial concern.
- 52.4% believe education should be the country’s main focus, with only 1.3% supporting Bitcoin.
While El Salvador made Bitcoin legal tender in 2021, a recent poll by the Francisco Gavidia University paints a pretty dark picture. Only 7.5% reported spending on digital assets, while even fewer, 1.3%, feel Bitcoin is the most important and should be the focus of the country’s future. This kind of general skepticism points to crypto as a solution to economic problems.
The first Survey Rumbo País 2024 was carried out from September 25 to 30 and surveyed 1,224 people. They reported their income did not reach the level of basic family needs, such as having a $254.60 deficit in the main population each month. This gap is a reflection of concerns about a strategic vision in the economic policy of the country and the increase in the cost of living.
Economic Realities and President Bukele’s Popularity
Meanwhile, though Bitcoin adoption has been poor, President Bukele’s popularity is very high: 8.43 out of possible, which, although a little lower than the 8.58 rating from the last survey, is a relatively strong vote of confidence from the populace. Also, 76.4% of Salvadorans approve of the state of emergency, even though many are worried there are too many wrongful arrests.
On the economic front, 52.5% described their financial situation as average, but almost a third of participants stated that family budgets were insufficient. As many as 87.4% have not seen a raise in salary, which increased concerns because 66.8% pointed at food costs as the most significant financial burden.
Future Focus: Education Over Bitcoin
With economic challenges at every turnaround, 52.4% believe the country must work on improving education. Meanwhile, 1.3% of those surveyed see Bitcoin as the answer to the seeming disconnect between crypto-friendly government and the priorities of the people. This survey offers an insight into the evolution of Salvadoran priorities and a concrete solution to the various problems facing their country.
According to the results of the survey, though President Bukele enjoys large support, his government’s push for Bitcoin might not align with the immediate needs and desires of the Salvadoran people.
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