Bitcoin usage in El Salvador has dropped by 99.8% since its legal-tender adoption in 2021. Only 14% of businesses initially conducted Bitcoin-related transactions, with 36% of the population using it at least once per month. The IMF pressured El Salvador to remove mandatory Bitcoin acceptance for merchants as part of a $1.4 billion loan agreement. Despite declining usage, the Salvadoran government has continued accumulating Bitcoin as a treasury reserve, holding approximately 7,754 BTC worth about $608 million. The decline reflects a broader HODL mindset, as investors increasingly view Bitcoin as a long-term store of value rather than a daily payment method.
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