According to President Bukele, a third of Salvadorans “actively” use the Chivo wallet

The Salvadoran President, Nayib Bukele claims that 2.1 million of his fellow citizens use Chivo’s cryptocurrency wallet, backed by the government, offers a glimpse into the obvious success of the country’s Bitcoin (BTC) tactic.

The controversial president Updated to its 2.9 million Twitter followers on Saturday afternoon, explaining that after just three weeks of operation, Chivo “now has more users than any bank in El Salvador”. Bukele pointed out that it is only a matter of time before the introduction of Chivo dwarfs all of El Salvador’s banks combined.

2.1 million Salvadorans ACTIVELY USE @chivowallet (no downloads).

Chivo is not a bank, but in less than 3 weeks it now has more users than any other bank in El Salvador and is quickly becoming more users than ALL BANKS IN EL SALVADOR put together.

This is wild! #Bitcoin

The state-issued Chivo wallet was introduced in early September when El Salvador officially recognized Bitcoin as legal tender, a historical metric that could provide an important case study for other countries in the region. Chivo enables individuals and businesses to send and receive payments in Bitcoin or dollars from anywhere in the world. The wallet is available on both Android and Apple devices. As Cointelegraph reported, the Mexican crypto exchange Bitso has registered as the main service provider for Chivo.

According to President Bukele, a third of Salvadorans “actively” use the Chivo wallet
According to President Bukele, a third of Salvadorans “actively” use the Chivo wallet

The latest update from Bukele suggests that Bitcoin law will be well received across the country, even if Hundreds of anti-government protesters took to the streets to express their opposition. On September 15, these protests culminated in the burning of a cryptocurrency ATM in the country’s capital.

Certainly, Chivo’s massive adoption is due in part to the government sending $ 30 worth of BTC to every Salvadoran account holder. According to a recent survey by the São Paulo agency Sherlock Communications, just over half of Salvadorans do not know Bitcoin.

In the meantime, The Bukele government filled their coffers with BTC after experiencing a series of volatile price swings of the digital asset. El Salvador “bought during the downturn” in at least two of its most recent declines – September 7th and 20th ?? it brings its total inventory to 700 BTC.

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