flash on Nostr: ⚡️🇸🇻 NEW - Bitcoin payments are plummeting in El Salvador. Even in El ...

⚡️🇸🇻 NEW - Bitcoin payments are plummeting in El Salvador.

Even in El Zonte, the famous “Bitcoin Beach,” the use of BTC for everyday payments appears to be declining sharply.

Jon Atack, a Bitcoin Core contributor based in El Salvador, reports that a restaurant told him his Bitcoin payment was the only one they had received all month.
Customers now overwhelmingly prefer to pay with credit cards.

Many prefer to HODL their BTC rather than spend it; volatility makes it difficult to use as a daily currency; and El Salvador has now made Bitcoin acceptance optional for merchants, following the revision of its agreement with the IMF.