El Salvador's Bitcoin Payments Plummet Amid Voluntary Acceptance
El Salvador's Bitcoin usage has declined sharply in recent years, according to various surveys and anecdotal evidence. In August 2026, a restaurant in El Zonte, known as Bitcoin Beach, received only one Bitcoin payment during the entire month. This is consistent with a survey conducted by Universidad Centroamericana, which found that only 8.1% of Salvadorans used Bitcoin for purchases in 2024, down from 25.7% in 2021.
The decline in Bitcoin usage is attributed to several factors, including the voluntary nature of private-sector Bitcoin acceptance after El Salvador revised its Bitcoin Law in February 2025 under a $1.4 billion IMF agreement. Prior to this revision, merchants were required to accept Bitcoin as payment. Additionally, price swings and unfamiliar wallet interfaces may also play a role in discouraging routine use.
A Universidad Francisco Gavidia poll found that 92% of respondents did not use Bitcoin for transactions in 2024, while only 7.5% said they did. The government's overall Bitcoin holdings have remained unchanged, despite onchain data showing movement between wallets.