# Holding Displaces Spending in Bitcoin Adoption

Bitcoin's use as a medium of exchange keeps receding as holders treat it as a reserve asset and banks restrict transfer access, so adoption growth concentrates in custodial investment products rather than in payment networks.

- Conviction: 38 / 100 (weakening)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-08-26T00:00:00.000Z
- Last updated: 2026-08-27T14:00:27.996Z
- Canonical: https://polylog.news/crypto/trends/store-of-value-crowds-out-payments
- Publisher: Polylog
- Affected regions: Global

## Recent score history

- 2026-08-27: 38
- 2026-08-28: 36

## Recent evidence

- [confirms] Bitcoin payments have nearly stopped at El Zonte, while a British group tells Parliament banks block 40% of transfers to exchanges (2026-08-26): A Bitcoin Core developer reported that a restaurant at El Zonte — the site of El Salvador's original Bitcoin Beach adoption project — took its first bitcoin payment of the month from him, while a British group told Parliament that banks block 40% of transfers to exchanges. Payment activity collapsing at the movement's showcase location, alongside a documented bank chokepoint on the on-ramp, is direct evidence on both legs of the thesis.