A recent survey by the El Salvador Chamber of Commerce shows that businesses in the country have not yet been moving fast in their adoption of Bitcoin (BTC) since the top cryptocurrency became legal tender in the country in September of 2021.
The poll questioned a total of 337 companies between Jan. 15 and Feb. 9, of which only 14% said they had have been transacting in Bitcoin since the Bitcoin Law came into effect in the country. More than 90% of the companies noted that, so far, there has only been little impact since the adoption of Bitcoin in the country had little impact on their sales.
Of the companies surveyed, 71% were micro or small businesses, 13% classified as medium-sized enterprises and 16% were large companies.
Despite the slightly slower start than expected, the embrace of Bitcoin in the country has triggered some notable benefits in the country, especially the tourism industry and the countries GDP. In November and December tourism spiked versus pre-Bitcoin levels with more than 30%, for example.
In a few weeks’ time, the Bitcoin Miami conference will be taking place from April 6-9 and El Salvador’s Bitcoin President Nayib Bukele is scheduled to make an appearance on center stage. He previously hinted at bringing a “huge surprise” along.
2022 predictions on #Bitcoin:
•Will reach $100k
•2 more countries will adopt it as legal tender
•Will become a major electoral issue in US elections this year
•Bitcoin City will commence construction
•Volcano bonds will be oversubscribed
•Huge surprise at @TheBitcoinConf
— Nayib Bukele (@nayibbukele) January 2, 2022
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