A survey found only 14 percent of businesses were transacting using Bitcoin.
of 1,800 Salvadoran households in February indicated just 20 percent of the population was using Chivo Wallet for Bitcoin transactions. More than double that number downloaded the app, but only to claim the US$30.Among respondents who identified as business owners, just 20 percent said they were accepting bitcoins as payment. These were typically large companies .
A year ago, Bukele was urging his citizens to hold their money in bitcoins. For anyone who did, the losses would be devastating.Bukele’s misunderstanding of Bitcoin – and economics more generally – has been demonstrated repeatedly.: “Bitcoin has a market cap of US$680 billion. If one percent of it is invested in El Salvador, that would increase our GDP by 25 percent.”. Foreign investment is not a component of GDP. There has been no surge in foreign investment nor GDP.