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Bitcoin Core developer says BTC payments have nearly disappeared in El Salvador
Everyday Bitcoin payments have fallen sharply in El Zonte, the Salvadoran community known as Bitcoin Beach that became the starting point for one of the country’s most prominent crypto experiments. Bitcoin Core developer Jon Atack said his BTC payment at a local restaurant was the first the establishment had received in an entire month.
According to Atack, who has lived in El Salvador since 2022, restaurant staff said customers previously paid with Bitcoin regularly, but such transactions are now “practically non-existent.” Most visitors prefer bank cards.
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A struggling experiment
Atack described the situation after visiting a restaurant in El Zonte on August 24. When the developer offered to leave a tip in sats, a staff member admitted that she had already forgotten how to use the Bitcoin payment app.
According to Atack, she described local BTC payment activity as “dead.” However, the ability to pay with cryptocurrency has not completely disappeared from El Zonte: other visitors have reported successful transactions, and some businesses still display signs indicating that they accept Bitcoin.
One reason for the decline may be that holders increasingly view the asset primarily as a store of value. If owners expect its price to rise further, they have less incentive to spend it on everyday purchases.
Volatility remains another obstacle. For merchants, the value of BTC received in a transaction can change significantly before it is converted into dollars, while bank cards remain a familiar option for small everyday payments.
El Salvador eases Bitcoin requirements
El Zonte played a key role in the history of Bitcoin adoption in the country. The local Bitcoin Beach project emerged in 2019 with support from an anonymous donor, and in September 2021 El Salvador became the first country in the world to recognize the asset as legal tender.
However, the original policy was later relaxed. As part of an agreement with the International Monetary Fund, authorities made Bitcoin acceptance voluntary for private businesses, although BTC retained its legal tender status.
In December 2025, El Salvador and the IMF were reported to have made progress in negotiations over further reducing the government’s involvement in Bitcoin infrastructure and selling the state-backed Chivo wallet. The measures are linked to the IMF’s $1.4 billion lending program.
At the same time, the government continued to claim that it was increasing its Bitcoin holdings. The IMF later said that the amount of Bitcoin held by the public sector had not actually increased since the lending program was agreed, while growth in balances at certain public addresses reflected transfers between government-controlled wallets.
We previously examined how El Salvador has changed in the five years since Bitcoin was legalized.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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