El Salvador's "Bitcoin Beach" Daily Payments Cool Down, Merchants Report Receiving Just One BTC Transaction Per Month

According to Cryptopolitan, Bitcoin Core contributor Jon Atack stated that when he recently paid with BTC at a restaurant in El Zonte, El Salvador ("Bitcoin Beach"), the staff noted it was the first Bitcoin payment the establishment had received in nearly a month. Local merchants reported that consumers have largely switched to using bank card payments, with some employees no longer familiar with how to use Bitcoin payment applications. The report indicates that Bitcoin price volatility, payment procedures that are less convenient than card transactions, and holders' preference for long-term accumulation over spending have collectively diminished the daily circulation of BTC in the area. While El Salvador maintains Bitcoin's status as legal tender, it has shifted merchant acceptance of BTC to a voluntary basis under an IMF loan arrangement.