Salvadorians sell ‘a lot more’ dollars to buy bitcoin (BTC)

Salvadorians sell ‘a lot more’ dollars to buy bitcoin (BTC)
Salvadorians sell ‘a lot more’ dollars to buy bitcoin (BTC)

President Bukele confirms that Chivo reported 24,076 payout requests, for a total of $ 3,069,761.05 in one day.

Adoption of bitcoin (BTC) in El Salvador is gaining momentum

Salvadorians are increasingly exchanging their funds in US dollars for bitcoin (BTC) over the bull run in progress, reports Cointelegraph.

Salvadoran President Nayib Bukele shared this news on Twitter, which is confirmed by data acquired from El Salvador’s internal portfolio service, Chivo.

President Bukele said: “People pay a lot more US dollars (to buy BTC) than they get from Chivo vending machines ».

He also urged the media to independently confirm the information in question by visiting ATMs. President Bukele further stated that Chivo reported 24,076 disbursement requests “for a total of $ 3,069,761.05 in one day ».

Has Salvadorians’ Attitude Toward Bitcoin Changed?

The rise in conversions from dollars to bitcoin in El Salvador reflects a change in investor mood. As a reminder, the country initially encountered resistance when it comes to general adoption. In addition, the Salvadoran government offers various subsidies for the use of bitcoin such as fuel subsidies and tax exemptions.

After adopting bitcoin as legal tender, El Salvador has installed over 200 ATMs primarily to facilitate local bitcoin transactions and bitcoin conversions to US dollars. This makes it the third largest crypto distributor network after the United States and Canada, according to a report from Cointelegraph.

Recently, the Salvadoran government announced on Twitter the construction of a $ 4 million veterinary hospital using profits made during the bitcoin bull market. According to

, the veterinary hospital will house four operating theaters, four intensive care units, 19 offices and a post-operative care area.

Clement Dubois

I like cryptocurrency. I’ve been studying it for several years now, but also investing in it and working in this field. In addition, I do articles on the subject where I try to be crisp!

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Salvadorians sell lot dollars buy bitcoin BTC

 
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