London Daily

Focus on the big picture.
Friday, Aug 08, 2025

0:00
0:00

Small Bitcoin Transfers Spike in El Salvador After BTC Adoption

El Salvador, which approved Bitcoin's as legal tender, has seen an unprecedented level of small BTC transfers under $1,000 this year.

President Nayib Bukele led the efforts to make El Salvador the first country to recognize bitcoin as legal tender, and inviting miners to set up shop among its volcanoes, El Salvador is currently at the epicenter of the Bitcoin universe. Despite these developments being relatively new, an embrace of BTC has been demonstrably underway in the country’s everyday use of bitcoin as a financial rail.

Data from blockchain analysis firm Chainalysis, shared exclusively with Reuters, revealed the following:

“Monthly bitcoin transfers of under $1,000 — a proxy for money sent to the country from Salvadorans working abroad — totalled $1.7 million in May compared to $424,000 a year earlier.

Such transfers hit a peak of $2.5 million in March, though a comparison with the previous year was unavailable.”

Several projects like Bitcoin Beach, a circular bitcoin economy established in the country’s El Zonte community, have already demonstrated how people in El Salvador are benefiting from using bitcoin for everyday purchases. And the recent moves this month from its president will surely increase the adoption of Bitcoin at a state level. But this growing trend in smaller bitcoin transfers demonstrates that Salvadorans are finding Bitcoin as a critical tool for international remittances, upon which they are significantly dependent.

According to Reuters:

“El Salvador is heavily reliant on remittances, In 2019, transfers using traditional money totalled nearly $6 billion — around a fifth of GDP — one of the highest ratios in the world.”

If the technical infrastructure needed to facilitate bitcoin transactions is established, BTC can be an incredibly efficient method for sending and receiving remittances. It is free from the third parties and regulators that can hamper or collect fees on such payments and with additional layers like the Lightning Network, transactions can be near-instantaneous and incredibly cheap.

Lightning Network payments platform Strike launched for customers in El Salvador in March and fast became one of the most downloaded apps in the country.

Source: Small Bitcoin Transfers Spike in El Salvador After BTC Adoption – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Embarrassment in Britain: Homelessness Minister Evicted Tenants and Forced to Resign
President Trump nominated Stephen Miran, his top economic adviser and a critic of the Federal Reserve, to temporarily fill an open Fed seat
The AI-Powered Education Revolution: Market Potential and Transformative Impact
Chikungunya Virus Outbreak in Southern China: Over 7,000 Hospitalized
French wine makers have seen catastrophic damage to vines that were almost ready to be harvested after the worst fires in more than 70 years burned through the south of the country
US Lawmaker Probes Intel CEO’s China Ties Amid National Security Concerns
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
Trump Open to Meeting Putin as Soon as Next Week, with Possible Trilateral Summit Including Zelenskiy
Katy Perry and Justin Trudeau spark dating rumors, joining high stakes world of celeb-politician romances
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
Trump Signals JD Vance as ‘Most Likely’ MAGA Successor for 2028
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
Representative Greene Urges H-1B Visa Cuts Amid U.S.-India Trade Tensions
U.S. House Committee Subpoenas Clintons and Senior Officials in Epstein Investigation
Sydney Sweeney Registered as Republican as Controversial American Eagle Ad Sparks Debate
Trump Accuses Major Banks of Politically Motivated Account Denials and Prepares Executive Order
TikTok Removes Huda Kattan Video Over Anti-Israel Conspiracy Claims
Trump Threatens Tariffs on India Over Russian Oil Imports
German Finance Minister Criticizes Trump’s Attacks on Institutions
U.S. Proposes Visa Bond of Up to $15,000 for Some Applicants
U.S. Farmers Increase Lobbying Amid Immigration Crackdown
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
×