The percentage of Salvadoran residents using Bitcoin is expected to decrease to 12% in 2023

In 2023, 12% of the local population in El Salvador had used Bitcoin at least once to pay for goods and services. This is a significant decrease compared to 2022 when a university report stated that 24.4% of Salvadorans had engaged in Bitcoin transactions. As Bitcoin became legal tender, the percentage of respondents who reported an improvement in their household lives increased from 3% in 2022 to 6.8% in 2023. While this suggests a positive correlation, it is worth noting that the majority of respondents (93.2%) did not attribute any improvements in their lives to the use of Bitcoin. In contrast to the positive correlation between Bitcoin adoption and personal well-being, this survey reveals a disconnect between the use of cryptocurrency and perceptions of El Salvador's overall economic condition. Only 0.5% of respondents believed that Bitcoin played a role in improving the national economy. Instead, over one-third of respondents (34.3%) attributed perceived economic improvements to a decrease in crime rates (24.3%).