Businesses in El Salvador have been slow to adopt Bitcoin since the country recognized Bitcoin (BTC) as legal tender in September 2021, according to a recent survey by the El Salvador Chamber of Commerce.
Only 14 percent of the 337 companies surveyed between Jan. 15 and Feb. 9 said they had transacted in BTC since the Bitcoin law came into effect.
Over 90% of companies said that the adoption of Bitcoin in the country had little impact on their sales. 71% of the companies surveyed were micro or small businesses, 13% were classified as mid-sized companies and 16% were large companies.
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