Despite El Salvador's government's efforts to promote widespread cryptocurrency adoption, only a small fraction of its population currently holds Bitcoin. According to a recent report by CoinGecko, despite being the only country in the world to actively use crypto as legal tender, only about 1.72% of El Salvador's population, or approximately 109,175 people, own Bitcoin. This figure is based on data from Triple-A, considering El Salvador's total population of 6.36 million.
El Salvador's crypto adoption rate is comparatively lower than some might expect, especially given the country's unique position in the global cryptocurrency landscape. The country has been ranked 55th on the global crypto adoption index, with several other nations, including those with bans on crypto, experiencing faster growth rates. For instance, an estimated 4.08% of China's total population, or 58 million people, currently owns cryptocurrency, which is significantly higher than El Salvador's rate.
President Nayib Bukele of El Salvador had announced that the country's combined Bitcoin investments reached $131 million, translating to a net profit of $3.6 million as of December 4, a total gain of 2.84%. In an effort to further bolster crypto investment within the nation, the government of El Salvador recently initiated a citizenship-by-investment initiative. This program offers a residency visa and a route to citizenship for individuals prepared to invest $1 million in Bitcoin or Tether (USDT) within the nation.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.