Despite the El Salvador government’s ongoing efforts to promote widespread cryptocurrency adoption in the country, a recent CoinGecko report highlighted that the number of cryptocurrency owners in El Salvador is limited.
The report released on December 7 once again highlights that El Salvador is the only country in the world actively using cryptocurrency as legal currency. However, a relatively small percentage of the population currently owns Bitcoin (BTC).
“Despite these progressive measures, Bitcoin adoption in El Salvador remains relatively low.”
In El Salvador, with a population of 6.36 million (about 1.72%), about 109,175 people own Bitcoin, according to data from Triple-A.
Additionally, El Salvador ranked 55th in the Global Cryptocurrency Adoption Index. However, several countries, including those that have banned cryptocurrencies, are experiencing faster growth rates.
Related: El Salvador has launched its first Bitcoin mining pool, with Volcano Energy partnering with Luxor.
Despite China’s cryptocurrency ban, a higher percentage of Chinese citizens reportedly own digital assets.
The report said, “Currently, approximately 4.08% (58 million people) of China’s total population owns cryptocurrency.”
This follows El Salvador’s President Nayib Bukele announcing that El Salvador’s total Bitcoin investment has reached $131 million. As of December 4, this resulted in net income of $3.6 million, or a total gain of 2.84%.
El Salvador #Bitcoin Investment is profitable!
After literally thousands of articles and hits mocking our expected losses, all calculated based on: #BitcoinThe price at the time was…
with the present #Bitcoin Market price, if we sell… pic.twitter.com/gvl2GfQMfb
— Nayib Bukele (@nayibbukele) December 4, 2023
Meanwhile, the El Salvador government has been stepping up efforts to increase domestic cryptocurrency investment.
On December 8, the country reportedly launched a new Citizenship by Investment initiative, offering a residency visa and path to citizenship for individuals prepared to invest $1 million in Bitcoin or Tether (USDT).
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