The study, which polled people from 1,800 households in El Salvador, attempted to gauge BTC acceptance in the country following the passage of the Bitcoin Law. Compared to other payment options, the researchers discovered that BTC is increasing traction.

Individuals who installed the government-backed Chivo Wallet have "decreased their usage of cash by 10%, while their net usage card payments has been cut by 11%," as per the research.

Aside from that, because El Salvador's Bitcoin Law mandates financial institutions to accept BTC, the research also questioned survey participants recognized as business owners or workers familiar with corporate forms of payment.

Related Post:El Salvador postpones Bitcoin-backed bonds to late September

Only 20% of this population said their firm or place of employment accepts Bitcoin, while only 25% accept credit or debit cards. In addition, "11.4 percent of enterprises have positive Bitcoin sales," according to the survey.

The researchers also discovered that 71% of BTC sales are exchanged into dollars before being withdrawn. In addition, 17% of sales are converted into dollars and stored in the Chivo Wallet. Meanwhile, 12% of users have retained their Bitcoin on the Chivo app.

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Finland set to help Ukraine with confiscated Bitcoin

Finland's government is allegedly planning to send bitcoin (BTC) acquired from cybercriminals to Ukraine to help the country fight the Russian invasion.

According to Helsingin Sanomat, the Finnish government has accumulated BTC 1,981 million (USD 78m). Finnish customs authorities confiscated the coins during "investigations connected to" offenses such as "drugs and drug smuggling."

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The bitcoin in question has subsequently been ordered to be transferred to the government, which is now attempting to swap the coins for cash.

However, the sources would not rule out the possibility of giving up its bitcoin stockpile "straight to Ukraine."

According to the newspaper, sources have said that a resolution on how much of the sale will be given to Ukraine has yet to be made. However, the resolution to effectively use bitcoin holdings "to aid Ukraine" has already been made, as per the anonymous sources.

Related Post:Ukraine received over $100 million in crypto donations

Meanwhile, Finland has chosen two brokers to sell BTC 1,890 over the spring and early summer.

The topic had been addressed "earlier in the spring inside the government," according to Helsingin Sanomat, with "approval also requested" from President Sauli Niinistö.

According to the newspaper, the topic will be considered in the cabinet, with a final and binding decision expected in May.