Comparing Bitcoin Ownership: El Salvador vs the U.S.

Not sure I buy this survey. It seems like it might be biased since students conducted it. People aren’t always gonna admit to owning Bitcoin, especially with so many surveys saying adoption isn’t as common as we think.

Right? It’s hard to trust these studies. But let’s be real, if retailers in El Salvador are more into Bitcoin than big companies or governments, that’s a big deal.

The whole legal tender thing in El Salvador started in 2021, but it all fell apart by 2024 thanks to pressure from the IMF. Now it’s not even legal tender anymore.

Totally expected that. El Salvador had a push for Bitcoin, and sure, many were interested, but the enforcement didn’t really help long-term adoption.

But they had a unique situation. The government was all about supporting Bitcoin. Can’t compare that with countries where it’s just an option. US has tons of crypto investors but no one really pushes for it.

True, but the way many got Bitcoin there wasn’t really ownership. They got it through an app and most sold it off quick. It’s more about usage, not just owning.

That makes sense. Bitcoin being legal tender in El Salvador gave it a boost. But the US is so diverse that forcing ownership just isn’t possible.

Yeah, if the US government actually did something positive for Bitcoin, maybe more folks would get on board. But they just seem to be holding back.

This survey seems off, honestly. They say other countries have more individual Bitcoin owners than the US, which just doesn’t add up. And with El Salvador dropping legal tender, it’s even less believable.

I find it wild that despite El Salvador getting Bitcoin first, countries like UAE aren’t leading in ownership. You’d expect richer places to have more Bitcoin holders.

For sure. But look at places like Nigeria and Turkey. They’re surprisingly high on that list! And what about Spain? Not even mentioned, feels odd.

El Salvador’s ownership makes sense considering it was legal tender, but the fact they dropped it shows the policy didn’t really stick. People need to actually want to use it.

Agreed. The Chivo Wallet gave a lot of people Bitcoin but it was just a gimmick for most. They just exchanged it for cash right away.

Surveys need to be done right. If people think their answers might be revealed, they’ll probably hold back. But then again, if the economy relies mostly on the dollar, that skews things.

The ownership stats are impressive, but I’d be wary of the accuracy. They say 5-10% of the world holds Bitcoin, but how many actually use it?

KYC is a thing now, so we might see people more open about their holdings in the future. But if countries start taxing Bitcoin heavily, that could change ownership patterns.

Sounds like we need to look deeper into how surveys are conducted. If El Salvador is promoting Bitcoin education, it makes sense they’d have more ownership.

Yeah but doesn’t mean it’s legitimate ownership. If they got it from the government, it’s not like they’re really invested in it.

You’ve got a point. If people feel pressured to fill these surveys, it skews the results. What about the Nigeria vs US claim? Seems fishy.

I mean, El Salvador’s high ranking doesn’t mean they’re using Bitcoin more effectively. Many still prefer fiat. Just because it’s legal doesn’t mean it’s functional.