Bitcoin no longer finds buyers in El Salvador. Right now, the country only has 109,000 people holding BTC. The government in place must review its strategies in order to revise these figures upwards and gain legitimacy. Zoom !
Salvador, less than 2% of the population hold bitcoin
The Salvadoran government may use all possible strategies to give a positive image to bitcoin (Casa del Bitcoin, Chivo, Bitcoin City, Volcano Bonds, etc.), but the population continues to snub the queen of cryptocurrencies.
The adoption rate of BTC is relatively low in El Salvador.
“ [TRIPLE A] Even though El Salvador is the only country in the world that uses cryptocurrencies as legal tender, only about 1.72% of the population owns Bitcoins (109,175 people out of 6.36 million). »
In a recent publication, Cointelegraph highlighted a research report from Triple-A stating that only 109,175 Salvadorans own bitcoins. This represents approximately 1.71% of the population given that the country has 6.36 million inhabitants at the moment.
A situation that is inconsistent with the fact that El Salvador was the first country to adopt bitcoin as legal tender.
“ Despite these progressive measures, Bitcoin adoption in El Salvador remains relatively low », Underlines the Triple-A team.
The report also classified El Salvador at 55e position of the global cryptocurrency adoption index. It seems that Nayib Bukele’s team lacks efficiency in its desire to democratize bitcoin. AND yet, in China, in a context of banning cryptocurrencies, the adoption rate is very high.
“ An estimated 4.08% of China’s total population (58 million people) currently own cryptocurrencies », We can read in the famous report.
Could President Nayib Bukele, the one who had just left his post to better prepare for the next presidential elections, have made a bad bet with bitcoin? Crypto skeptics will certainly have their say on this. Enthusiasts will continue to encourage this dedicated advocate of bitcoin.
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