Bitcoin adoption highest in El Salvador and Venezuela, Cornell report finds

A Cornell study finds Bitcoin adoption is highest in El Salvador and Venezuela. The report attributes this concentration to factors like El Salvador’s legal-tender status for BTC, Venezuela’s economic instability and currency controls, and heavy remittance flows that make crypto useful for payments and value preservation. The implication for Bitcoin is that adoption is currently driven most strongly by fiat weakness and cross-border payment needs, signaling targeted demand growth in economically distressed jurisdictions and increased policymaker and market attention in those regions.