The government of El Salvador has been working hard to encourage the country's citizens to accept cryptocurrencies, but as a recent CoinGecko research showed, not many people really possess cryptocurrency in El Salvador.
The report, which was released on December 7, reaffirms that El Salvador is the only nation in the world now accepting cryptocurrencies as legal cash. Still, just a tiny portion of its people own Bitcoin at the moment.
Out of 6.36 million people, or around 1.72% of the population, El Salvador has 109,175 Bitcoin owners, according to Triple-A data.
El Salvador is also ranked 55th in the world according to the global crypto adoption index. Nonetheless, a number of countries—including those that have outlawed cryptocurrency—are seeing stronger growth rates.
More Chinese people are apparently digital asset owners even though the country has outlawed cryptocurrencies.
As of right now, 58 million people, or around 4.08% of China's total population, are expected to own bitcoin.
The news that the nation's total Bitcoin investments have surpassed $131 million was made by Salvadoran President Nayib Bukele. With a net profit of $3.6 million as of December 4, this amounted to a gain of 2.84% overall.
El Salvador's #Bitcoin investments are in the black!
— Nayib Bukele (@nayibbukele) December 4, 2023
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time...
With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb
In the meantime, El Salvador's government has been stepping up its attempts to boost cryptocurrency investment in the country.
It was claimed on December 8 that the government had launched a new citizenship-by-investment program, offering resident visas and a path to citizenship to anybody willing to spend $1 million in Bitcoin or Tether USDT locally.
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