El Salvador’s bold venture into Bitcoin continues to make waves, with small businesses like Good Beans coffee shop in San Salvador experiencing a boost in sales since adopting the cryptocurrency.
Owner Gabe Gutierrez reports that 5% to 10% of their monthly revenue now comes from Bitcoin transactions, showcasing a positive impact on their bottom line. Despite initial skepticism, President Nayib Bukele’s vision of reducing reliance on the US dollar and facilitating remittances is gaining traction.
While challenges persist, including a recent loss of $40 million in Bitcoin investments, enthusiasm remains high with plans to introduce Bitcoin education in schools and an influx of international residents embracing the digital currency for daily transactions.
