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El Salvador's adoption of bitcoin as legal tender poses challenges for the network, JPMorgan says

2 monthes ago   |   By Business Insider

A demonstrator holds up a sign against the government's bitcoin law during a LGBT community Pride parade on June 26, 2021 in El Salvador.
APHOTOGRAFIA/Getty Images
El Salvador's bitcoin plans could be a practical challenge for its network, JPMorgan said.
Only a small fraction of bitcoin trading volumes has gone towards economic activity.
The nature of bitcoin's volume is a limitation on its potential as a medium of exchange, they said.
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El Salvador's decision to adopt bitcoin as legal tender poses some systemic risks...
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