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In September 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender, alongside the US dollar.
Family remittances received through cryptocurrency wallets in El Salvador fell by 5.6% in the first seven months of 2024, compared to the same period in 2023, according to data from the Central Reserve Bank (BCR) consulted this Monday by EFE.
Figures from the state financial institution indicate that remittances received between January and July 2024 reached 49.67 million dollars, compared to 53.14 million in 2023.
The difference in the value of these currencies, sent in digital wallets, was 3.47 million dollars.
These revenues represented only 1.04% of the total of 4,756.27 million dollars recorded in family remittances in general in these seven months.
In 2023, family remittances received through cryptocurrency wallets in El Salvador registered a drop of 34.5%, compared to 2022, going from 126.72 million dollars to 82.93 million.
In September 2021 , El Salvador became the first country in the world to adopt bitcoin as legal tender , alongside the US dollar .
88% of the population will not have used this crypto asset in 2023, according to the latest surveys that have evaluated the issue, and projects such as the construction of “Bitcoin City”, a tax haven for users of this cryptocurrency, and the placement of 1,000 million in bonds have stagnated.
