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Survey: Bitcoin adoption in El Salvador lower than expected

Jet Encila-Bitcoinist
2022-03-21 03:02
According to a new poll conducted by El Salvador’s chamber of commerce, the majority of the country’s businesses do not use Bitcoin – an astonishing finding given Bukele’s efforts to promote Bitcoin usage.
The survey shows that only 14% of respondents have used BTC in transactions since September, when the cryptocurrency became legal tender in El Salvador.
Additionally, the poll reveals that a sizable proportion of respondents have not observed any impact on their sales as a result of adoption.
Bukele made a huge promise to his constituents when he originally introduced the Bitcoin law in June of last year.
However, a poll issued this month by the country’s Chamber of Commerce revealed that 85% of enterprises surveyed had never executed a Bitcoin transaction.
While the majority of businesses in the study were small enterprises, accounting for 70% of respondents, 15% were large businesses, and 13% were medium-sized organizations.
This poll demonstrates that, despite the government’s numerous efforts to promote the crypto’s acceptance, the level of adoption remains very low.
Despite the low adoption rate, Bukele remains bullish on the coin, with the country now holding approximately 1,800 units.
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