Nayib Bukele, the President of El Salvadoran asserts that over two million of his fellow natives are using the government-backed Chivo digital asset wallet, offering a peek into the evident success of the nation’s Bitcoin gambit.
The infamous president updated his approximately three million Twitter followers recently, mentioning that Chivo “now has more users than any bank in El Salvador” after only 3 weeks in operation.
The president hinted that it’s only a matter of time before Chivo espousal eclipses all banks in El Salvador combined. To be sure, mass espousal of Chivo is due in part to the government airdropping thirty dollars worth of Bitcoin to every Salvadoran account holder.
The president’s latest update indicates that the Bitcoin Law is being received positively across the nation, even as hundreds of anti-government demonstrators took the streets to voice their disapproval. On 15th September, those remonstrations resulted in the burning down of a digital asset kiosk in the country’s capital city.
In the meantime, Bukele’s government has been filling its coffers with Bitcoin subsequent to a couple of volatile price swings for the virtual currency. The nation “bought the dip” on at least 2 latest price declines, which occurred on 7th September and 20th September, bringing its total holdings to around seven hundred Bitcoins.
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