Up To 2.1 Million Salvadorians Use The Government Bitcoin App, Says President Bukele

2021-09-27 23:16:21

Chivo

President Bukele of El Salvador claims that up to a third of Salvadorians are active users of the government-issued wallet for bitcoin, Chivo. According to the personal Twitter account of the President, around 2.1 million users are currently using the Chivo application.

And if you consider that El Salvador is a country with a population of no more than 6.5 million, that is a really solid number.

2.1 million Salvadorans are ACTIVELY USING @chivowallet. Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users than ALL BANKS IN EL SALVADOR combined. This is wild!Nayib Bukele | Official Twitter Statement

It has been three months since El Salvador declared bitcoin a legal tender. After passing the Bitcoin Law on 7th of September, El Salvador relies on the stability of the US dollar. Which consequently, is the official currency of the state since 2001.

And in order to provide the platform for the Chivo wallet, El Salvador turns to BitGo as the tech provider. BitGo is a California based digital asset company, with multiple services in the field of blockchain technology.

Yet it seems that despite one-third of the users population in El Salvador using the Chivo app, many still refuse to partake in this crypto revolution. Even more, if you consider the recent demonstrations against bitcoin in En Salvador. In what seem to be real anti-crypto protests, demonstrators vandalized and set fire to Chivo ATM that they encountered.

Consequently, the demonstrators are against the nationwide rollout of bitcoin. With some even claiming that the government is exaggerating the numbers. This just goes to show that cryptocurrencies are always going to divide people, regardless of the country.

 

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