According to Cointelegraph: An annual survey conducted by José Simeón Cañas Central American University in El Salvador reveals that 12% of Salvadorans have used Bitcoin to pay for goods and services at least once during 2023. However, this represents a decrease in Bitcoin usage, as research from the same university in 2022 stated that 24.4% of the population had made purchases using the cryptocurrency.
The survey, comprising 1,280 respondents and conducted in December 2023, highlights that 49.7% of those surveyed have used Bitcoin one to three times for purchases, while 20% have used it 10 times or more. The primary expenses paid in Bitcoin were groceries (22.9%), supermarket purchases (20.9%), and veterinary clinic services (15%).
On the topic of Bitcoin as legal tender improving the quality of life for Salvadorans, 6.8% of respondents agree in 2023, up from 3% in 2022. However, only 0.5% attributed improvements in the country's overall economic situation to Bitcoin. 34.3% of respondents believed the economic situation improved primarily due to the decline in crime (24.3%).
Despite Bitcoin's presence in El Salvador's economy, 77.1% of respondents in 2023 expressed a desire for the government to cease spending public money on Bitcoin. According to the "Nayib Bukele Portfolio Tracker", which observes El Salvador's Bitcoin assets, the government's BTC portfolio's total profit is around 0.57% at the time of reporting. Interestingly, the 45-page survey did not contain questions about the Salvadoran government's Bitcoin investments.
