12% of El Salvador’s Population Used Bitcoin for Goods and Services in 2023: Survey
According to the annual survey conducted by José Simeón Cañas Central American University in El Salvador, 12% of the local population used Bitcoin (BTC) at least once to pay for goods and services in 2023.
The survey, conducted in December 2023 with 1,280 respondents interviewed in their homes, indicates a decline compared to 2022. Last year, 24.4% of the population was reported to have made a purchase with Bitcoin.
Among those surveyed, nearly half (49.7%) made a Bitcoin transaction one to three times, while 20% used it 10 or more times. The main expenditures in Bitcoin were for groceries (22.9%) and supermarkets (20.9%), followed by veterinary clinics (15%).
The survey also revealed changes in perception regarding the impact of Bitcoin as a legal tender. In 2023, 6.8% of respondents felt their family’s life improved during the past year due to Bitcoin being legal tender. This is a 3.8% increase from the results in 2022.
However, more than a third (34.3%) believed that the overall economic situation in the country improved. This was primarily attributed to a decline in crime (24.3%), with only 0.5% associating Bitcoin with economic improvement.
According to the survey in 2022, only 24.4% of respondents reported using BTC as a means of payment since the country’s government recognized it as legal tender. Despite the government’s efforts to promote Bitcoin adoption, 95% of respondents stated that their lives “stayed the same” or “[have] gotten worse” since Bitcoin became legal tender.
El Salvador’s President Nayib Bukele has been a vocal supporter of Bitcoin. He has initiated various Bitcoin-related projects, including proposing the establishment of a “Bitcoin City” with nominal tax rates set at 0%. The government has also
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