Despite being the first country in the world to adopt Bitcoin as legal tender, many Salvadorans have yet to embrace the cryptocurrency fully. A recent survey conducted by San Salvador University Francisco Gavidia reveals that a staggering 92% of citizens do not make transactions using Bitcoin.
Survey Highlights:
The survey, conducted on October 10, found that only 7.5% of respondents have used Bitcoin for transactions, while a mere 0.5% chose not to answer. This marks a slight decline in Bitcoin usage compared to previous findings; a survey from the University of Central America’s public opinion institute indicated that 88% of Salvadorans did not utilize Bitcoin in 2023. A total of 1,224 adults were interviewed, addressing their primary political and economic concerns.
Interestingly, while many remain skeptical about Bitcoin, around 60% of participants believe the country is on the right path, expressing strong support for President Nayib Bukele. However, only 1.3% of respondents considered Bitcoin the “main bet” for El Salvador’s future. Instead, the majority emphasized the importance of education and industry development.
President Bukele’s Controversial Leadership
President Bukele, who has been in office since June 2019, has gained popularity for his aggressive crackdown on organized crime, which has led to the imprisonment of approximately 1% of the country’s population. This controversial approach has been met with criticism from human rights advocates, who argue that it lacks due process and results in widespread abuse.
In September 2021, Bukele made headlines by introducing legislation to adopt Bitcoin as legal tender, aiming to attract foreign investment with initiatives such as Bitcoin “Freedom” visas and plans for a Bitcoin City. Since then, the government has been actively promoting Bitcoin as a means to position El Salvador as a global leader in cryptocurrency.
Future Aspirations Amid Skepticism
Bukele, who began his second five-year term in June, remains committed to establishing El Salvador as a “world leader” in various sectors, including cryptocurrency. However, the latest survey indicates a disconnect between government initiatives and public acceptance, as many Salvadorans prioritize education and traditional industry over Bitcoin.
Conclusion: The Path Ahead for Bitcoin in El Salvador
While El Salvador’s historic move to adopt Bitcoin as legal tender has garnered international attention, the recent survey results suggest that skepticism remains prevalent among its citizens. As Bukele continues to push for innovation in the crypto space, addressing public concerns and focusing on education may be crucial for fostering broader acceptance of Bitcoin in the future.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
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