> El Salvador profits from Bitcoin boom but daily use remains limited / 66YY263
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El Salvador profits from Bitcoin boom but daily use remains limited / 66YY263
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Description
El Salvador has gained $443 million from the rise in Bitcoin's value, nearly four years after President Nayib Bukele made it legal tender alongside the US dollar.
The country, which has no national currency, became the first in the world to adopt the cryptocurrency officially in September 2021.
While the government touts the benefits and promotes its use through educational programs and institutions like the public pet hospital Chivo Pets, where consultations are paid exclusively in Bitcoin, daily adoption remains limited.
In 2024, only 8% of Salvadorans reported using the digital asset for purchases or payments, highlighting the gap between national policy and everyday practice. IMAGES AND SOUNDBITES