#Bitcoin usage in El Salvador is declining.
Despite#Bitcoinbeing a legal tender since 2021, its usage for transactions remains low, according to a recent survey by Francisco Gavidia University in San Salvador.
Key findings include:
- Only 7.5% of respondents use Bitcoin for transactions.
- 92% admit to never using Bitcoin, while only 1.3% see Bitcoin as the country’s future focus for development.
- Despite this, support for President Nayib Bukele remains strong, with 58% of respondents believing that the country is on the right track under Bukele’s leadership.
- El Salvador made headlines in 2021 by adopting Bitcoin as a legal tender, but the results suggest that the public has not fully embraced#Bitcoinin daily use.
- Previous surveys have also indicated that $BTC usage is limited; In a survey conducted by another university in 2023, it was stated that the usage rate was at 88%. The latest data reveals that the use of Bitcoin in transactions has decreased even more.