CandleFocus El Salvador Survey Shows Bitcoin’s Lindy Effect in Action
2024-10-18
Author: Content Editor
The article argues that despite the low adoption rate of Bitcoin for transactions in El Salvador, the country's Bitcoin legal tender law has been a success. It highlights that 7.5% of Salvadorans currently use Bitcoin for transactions, which is impressive considering the history of failed currency regimes in the country. The author believes that Bitcoin needs to become a store of value before it can become a widely used medium of exchange. They also emphasize that Bitcoin is still a new asset class that is growing, and widespread adoption will take time as trust and usability improve. The article concludes by stating that progress is being made and that it is a long-term process.
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