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Bitcoin transfers to El Salvador drop in 2023

In 2021, El Salvador took the adoption of Bitcoin (BTC) to a higher level by introducing it as a legal tender and thus equating it with the US dollar. Meanwhile, more than a year and a half later, the country has invested many millions in bitcoin for the treasury. Remittances, i.e. money sent by migrants to relatives in the country of origin, in bitcoin or other cryptocurrencies, would have fallen by 17.8% during the first two months of this year relative to 2022.

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