In El Salvador, Bitcoin is still popular

A trend to be confirmed – Since the month of June 2021 and the approval of the bitcoin lawTHE salvador is observed under the magnifying glass both by bitcoin affirmed only by its detractors. Life-size experience, huge error, we have heard everything about this small state and its charismatic president Nayib Bukele. Despite promises of ruin International Monetary Fund, the authorities remain straight in their boots and continue to develop projects around the first cryptocurrency on the market. A recent study also positions the salvador In the top three of the countries most interested in Bitcoin and offsets other less positive polls. We take stock.


A study shows all the interest that Bitcoin arouses in the country…

online betting site Cryptobetting just published a study which measures the interest in Bitcoin using several indicators. First, there is the research carried out on Google Trend. Then the number of bitcoin vending machines (ATM) per 100,000 people. And finally the percentage of the population that personally owns crypto. Using these three criteria, the platform’s analyst teams ranked the countries by determining an index out of 100. The higher the score, the more the country is interested in Bitcoin.

The first country in the ranking is the UNITED STATES with an ATM number of over 33,000 which literally blows away the competition! But what interests us today is the second place occupied by the salvador. And what puts her here is her score of tendency on Google Trend which is far superior to all the others. We can see on the ranking below that the first European country is the Swiss while the Nigeria keep showing growing interest in cryptocurrency in all rankings.

After the USA, El Salvador is the second country that shows the most interest in Bitcoin
Ranking of countries according to interest in Bitcoin – source:

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…while polls show the opposite!

But this study should not hide other realities on the ground revealed by surveys recent. Let’s start with that ofSimeon Canas University carried out last year and which shows that 61% of those questioned have a negative opinion of bitcoin. Of the 1,260 people who took part, two-thirds said that the advent of Bitcoin as legal tender did not improve the state of their finances. Finally, they are less than a quarter to have actually used it at least once and more than 77% think that public money should not be used to buy it.

Let’s finish this little tour of local studies with that of the Center for Citizen Studies of theFrancisco Gavidia University. This study reveals that in May 2022, 60% of respondents would have preferred it to be the dollar who becomes a legal tender currencyand in the country! We can clearly say that the situation is mixed and that the enthusiasm shown by the government is not necessarily confirmed on the ground.

However, the president Nayib Bukele continues to pursue its policy based on Bitcoin with, for example, the forthcoming implementation of Volcano Bonds intended to build the very modern Bitcoin City. All this policy will certainly take time to show potential positive effects, but in the meantime, and to the surprise of certain ominous birds, El Salvador has been able to repay a series of obligations at the beginning of the year.

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Last Verdict

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