El Salvador made history a few months ago by becoming the first country in the world where bitcoin (BTC) An legal tender became. The cryptocurrency was officially recognized from then on and was placed on the same pedestal as the US dollar.
Initially, there was great opposition to this new law in the country. A large majority of the population saw absolutely no benefit in bitcoin and what it stands for. Even broke riot out in protest and the official Billy Goat wallet was ignored by most.
Adoption is on the rise
However, it seems that the sentiment of the population in El Salvador has changed somewhat. More people in El Salvador are currently choosing to exchange their US dollars for bitcoin than ever before. Bitcoin adoption in the country appears to be catching up a lot.
The controversial president of the country, Nayib Bukele, announced on the social media platform Twitter that the amount of money transferred to the Chivo wallet has reached new records. In total, about $3 million in dollars was exchanged for bitcoins in 24 hours.
2 new Chivo Facts:
1. People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).
2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).
– Nayib Bukele ???????? (@nayibbukele) October 16, 2021
Bukele also says that more people buy bitcoin than they withdraw via the now large amount of bitcoin ATMs installed in the Central American country. El Salvador has installed hundreds of these vending machines in recent months.
Sentiment shifts
This development clearly shows that the sentiment of the population in El Salvador is undergoing a strong shift. Tempers have dropped somewhat and it seems that more people are willing to give bitcoin the benefit of the doubt anyway.
Of course, this comes along with the current price of bitcoin. The biggest cryptocurrency has made a big upward move in a short time and has even almost a new one all-time high put down. This will of course not have escaped the attention of the population in El Salvador and may have caused an impulse in interest.
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