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The Adoption of Bitcoin as Legal Tender in El Salvador: Analysis of the relationship between the Bitcoin and the US Dollar.

Guarda Campos, Inês ; Fäh, Ibrahima
(2023)

Files

GUARDA_CAMPOS_67801700_2023.pdf
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  • Adobe PDF
  • 18.5 MB

Details

Supervisors
Iania, Leonardo
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion, à finalité spécialisée
Abstract
The adoption of Bitcoin in El Salvador has received significant attention in the past year, with the country becoming the first to adopt it as legal tender in June 2021. This study aims to explore the impact of this adoption on the country's dependence on the US dollar. Through a combination of quantitative and qualitative research, as well as data analysis, the study seeks to understand the motivations behind the adoption of Bitcoin, the extent to which it has been successful in promoting economic independence, and the challenges and limitations that have been encountered. The findings of this study have important implications for other countries considering similar adoption of Bitcoin.