LIVEWhy is Crypto Adoption Slow in El Salvador Despite Pro-Crypto Efforts? 🇸🇻
El Salvador, the only country embracing crypto as #legal tender, faces low crypto ownership despite its government's pro-crypto policies.
A recent CoinGecko report revealed that only 1.72% of the population owns Bitcoin, with 109,175 individuals out of 6.36 million. This ranks El Salvador 55th in global crypto adoption, lagging behind nations with bans on crypto like China, where 4.08% of the population (58 million people) own digital assets.
Despite President Nayib Bukele's announcement of $131 million in Bitcoin investments with a $3.6 million profit as of December 4, the country continues to see relatively slow #adoption rates.
To encourage investment, El Salvador launched a #citizenship-by-investment initiative, offering residency visas and citizenship to those investing $1 million in Bitcoin or Tether within the nation.
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