The millennial president’s biggest mistake so far has been his Bitcoin Act, according to a survey. But Salvadorans still overwhelmingly approve of it.
The Salvadoran newspaper, La Prensa Gráfica, informed yesterday that millennial president approval ratings are currently at 85.1%.
LPG Datos, the paper’s research unit, polled 1,520 people across the country and asked whether they approved or disapproved of what the president had done so far. Only 11.7% said they disapproved and 3.2% did not respond. It is possible, however, that some citizens were afraid to respond truthfully and criticize the president – as were some who spoke with Decrypt.
President Bukele took office in 2019 after pledging to reduce gang violence in the crime-stricken Central American country and end corruption.
The Twitter-loving leader has perhaps become most famous for giving currency to Bitcoin in El Salvador: an idea that has been criticized by the World Bank, the IMF and even JP Morgan.
And if the LPG Datos survey is any indication, El Salvador’s own citizens aren’t thrilled about it either: when asked about the president’s shortcomings, Bitcoin topped the list — with 9.6% of respondents saying they didn’t. liked the new law.
The Bitcoin Act, passed in September, obliges all companies with technological means to accept cryptocurrency (Decrypt discovered a few weeks ago that it is still a little slow.)
The government, in an attempt to encourage its people to use cryptocurrency, launched a cryptocurrency wallet and gave all citizens who downloaded it $30 worth of Bitcoins. The wallet, called Chivo, didn’t perform very well when it took off and has had problems ever since.
And citizens in El Salvador frequently protest President Bukele’s Bitcoin Act. There were more marches this week.
But President Bukele was quick to say on Twitter yesterday that the “marches were useless“, because its approval among the general population of El Salvador is very high.
LPG Datos said other grievances by Salvadorans are safety and rising prices in the country. But they praised the president for his investment in hospitals and the way he handled COVID-19 — including the vaccine rollout.
President Bukele’s Bitcoin Act has been praised by Bitcoin advocates outside the country, who say it will bring economic freedom to El Salvador. If only the country’s citizens would agree.