Few people sent money to El Salvador using Bitcoin and Crypto in H1 2023
El Salvador has recorded a notable drop in remittances posted in Bitcoin and other cryptocurrencies in H1 2023. Recent data from Banco Central de Reserva (BCR), El Salvador’s central bank, indicates the country’s crypto remittance program saw a 26.5% drop in usage, even as remittances grew by more than 5%. You might also like: El Salvador’s international bonds offer 60% return in H1 2023 A snippet of the data shared by journalist and university professor Edwin Segura on July 22 via Twitter shows that Salvadorans living abroad sent back nearly $4 billion into the country in the first half of 2023. Remittance in crypto decreased 26.5% during the first 2023 semester compared to a year ago. Traditional remittance went up 5%. In El Salvador, #Bitcoin is in a coma; Salvi people salivate for US fiat$$$ https://t.co/OCP2tSmrX5 — Dr. Ricardo J. Valencia in 🫓 (@ricardovalp) July 22, 2023 In what many may see as an indictment of Salvadoran President Nayib Bukele’s law that...