Less than 2% of El Salvador’s population holds crypto: report
Despite the El Salvador government's relentless efforts to promote widespread cryptocurrency adoption in the country, a recent CoinGecko report highlighted the limited number of crypto owners in the country.
The report, published on December 7, reiterates that El Salvador is the only country in the world that is actively using it as legal tender. However, a relatively small percentage of the population currently holds Bitcoin (BTC):
“Despite these progressive measures, Bitcoin adoption in El Salvador is relatively low.”
According to data from Triple-A, approximately 109,175 people in El Salvador, which has a population of 6.36 million – approximately 1.72%.
El Salvador is also ranked 55th in the global crypto adoption index. However, many countries, including those that have banned crypto, are experiencing rapid growth rates.
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Despite the ban on crypto in China, it is reported that a large number of its citizens own digital assets.
“In China, 4.08% of the total population (or 58 million people) currently own cryptocurrency,” the report said.
This follows Salvadoran President Naib Bucale's announcement that the country's combined bitcoin investments have reached $131 million. As of December 4, this translated to a net profit of $3.6 million, which resulted in a total profit of 2.84%.
El Salvador's #Bitcoin investments are in the black!
After thousands of posts and posts mocking our losses, all accounted for by the #Bitcoin market price at the time…
At the current #Bitcoin market price, if we sell… pic.twitter.com/gvl2GfQMfb
— Naib Bukele (@naibbukele) December 4, 2023
Meanwhile, the government of El Salvador is intensifying its efforts to increase crypto investment in the country.
On December 8, the country reportedly launched a new citizenship-by-investment initiative, offering residency visas and a path to citizenship for individuals willing to invest $1 million in Bitcoin or Tether (USDT) in the country.
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