Central America

Katarina Hall | 10.31.2024 11:45 AM

When President Nayib Bukele promised that bitcoin would be accepted everywhere in El Salvador, it seemed like a glimpse into the future—a world where cryptocurrency would be woven into everyday life. But after a week there, I found a different reality. Not a single business accepted my bitcoin.

In September 2021, El Salvador became the world's first country to adopt bitcoin as legal tender alongside the U.S. dollar. The vision was ambitious: According to Bukele, bitcoin would "improve the lives and the future of millions," making it easier to access financial services where traditional banking is often out of reach.

To incentivize adoption, the government launched the Chivo wallet app, offering $30 in bitcoin to anyone who signed up. Bitcoin ATMs........

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