🇸🇻 El Salvador, once a pioneer in embracing Bitcoin, is seeing lukewarm interest in cryptocurrency services. Local reports reveal that the growth of the crypto industry has been disappointing. Currently, only 20 Bitcoin service providers (BSPs) are operational, including the national wallet Chivo, which may soon be disbanded due to an IMF agreement. Out of 181 applicants, 161 remain inactive, indicating a drop in interest. Despite some macro wins, like Tether relocating to the country, President Bukele admits that Bitcoin adoption hasn't met expectations. Crypto remittances, a key use case, account for less than 1% of funds sent. While Bitcoin has helped with international branding, the local impact remains minimal. What are your thoughts on El Salvador's crypto journey? Let us know! 💬