Bukele Turns to Stablecoins as Bitcoin Payments Fail to Catch On

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El Salvador President Nayib Bukele is reportedly shifting emphasis from Bitcoin toward stablecoins as everyday Bitcoin payments have failed to gain broad adoption despite the country’s legal-tender policy. The change reflects Bitcoin’s volatility and limited use for routine transactions, while stablecoins offer dollar-like price stability and may better fit local commerce. The move could weaken the practical role of Bitcoin in El Salvador’s monetary strategy, even as the government retains its broader Bitcoin commitments.

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