El Salvador: Local bank affirms that use of Bitcoin is marginal

Since El Salvador adopted Bitcoin as legal tender in September 2021, expectations about the transformative potential of this cryptocurrency in the country's economy have been considerably high.

However, two years after this historic decision, reality seems to be far from initial projections.

Local banking affirms that use of Bitcoin in El Salvador is marginal

According to statements provided by Bancoagrícola, the largest bank in the country, to the local media Diario El Mundo; Bitcoin operations through the financial system have not yet taken off and remain at marginal levels.

Some believe that despite BTC's rise to its all-time high, the cryptocurrency still seems not to be attractive to Salvadorans. Source: BeInCrypto.

Alexander Pinilla, Financial Vice President of Bancoagrícola, emphasizes this perspective by stating that the use of Bitcoin within banking operations remains “very marginal”.#HotTrends