Was El Salvador's bet on bitcoin worth it? ๐ธ๐ป๐ฅ
El Salvador adopted bitcoin in 2021 as legal tender, driven by Nayib Bukele. ๐งโ๐ผ๐ธ The idea: boost the economy and attract investment. But, after three years, the results are disappointing. ๐ Only 8% use bitcoin, remittances in crypto barely reach 1.6%, and the economy is not taking off. ๐ The Chivo Wallet failed, and public debt is at 85% of GDP. In 2025, bitcoin was no longer mandatory due to pressure from the IMF. ๐ฐโ๏ธ The dream of Bitcoin City never took off!
But at least the country is safer ๐คท