Ark Invest: El Salvador's Bitcoin adoption lags behind Argentina

ChainCatcher news, according to The Block, a note sent to investors by Ark Invest research assistant David Puell on Monday indicated that El Salvador's Bitcoin adoption rate lags behind that of Argentina.

Signum Growth Capital CEO Angela Dalton stated, "El Salvadorans have a high level of awareness, but the usage rate is still low. However, people generally take pride in the fact that El Salvador is an early adopter of new technologies."

In contrast, Argentina's relationship with Bitcoin has developed rapidly, primarily driven by economic challenges. It is predicted that Argentina's inflation rate will reach 147% in 2023, and the Argentine people are seeking alternative ways to protect their wealth.