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Crypto

El Zonte Sees Decline in Bitcoin Adoption Amid Shift to Card Payments

Guavy AI Editorial Team
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BTC
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El Zonte, El Salvador has seen a significant decline in Bitcoin usage, with most transactions now conducted via card payments. Merchants in the area are reportedly describing Bitcoin as 'dead,' reflecting a shift away from the cryptocurrency despite its legal tender status since 2021.

The trend appears consistent with recent legal changes allowing merchants to opt out of Bitcoin acceptance, aligning with the nation's 2025 agreements with the International Monetary Fund (IMF).

Market pricing suggests this development could contribute to a less favorable outlook for Bitcoin reaching high price targets.

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