Carr Consulting's Matthew Morris: Bitcoin's El Salvador evolution

In 2021, El Salvador became the first country in the world to adopt bitcoin as legal tender, alongside the US dollar.

It has no currency of its own, having abandoned the colón at the start of the 21st century. I travelled to El Salvador in September to experience the adoption and find out what it means for the future of the cryptocurrency as an investible asset. There are two things that jump out at you when you arrive in El Salvador. Firstly, it feels very safe, having undergone a security revolution in the past five years. Secondly, very few locals use or have much interest in bitcoin. The US dollar is still king, primarily cash, although card is taken in most shops and bars. Where bitcoi...