There Are More People Using Bitcoin Wallets Than Bank Accounts, Says El Salvador President

El Salvador had made history when it became the first sovereign nation to make bitcoin a legal tender. The September 7 official adoption had sent the entire space into jubilation as it had marked a significant stride for BTC. Barely a teenager, the digital asset had grown from being a relativity unknown internet coin to become the official legal tender of a country. Since then, El Salvador has made strides when it comes to bitcoin. The country had gradually increased its stake in BTC after its first purchase on what has come to be known as “Bitcoin Day” in the country. Adoption of the government-issued bitcoin wallet, Chivo, had grown rapidly as residents of the country took advantage of the $30 sign-up bonus. Related Reading | Plummeting Bitcoin Exchange Reserves Show Investors Are Not Ready To Sell It would seem that the adoption was moving at a more rapid pace than expected. Only two months after the law went into effect, President Nayib Bukele has made a revelation regarding the number of citizens who are using bitcoin. BTC Wallets Being Used More Than Banks President Nayib Bukele had provided updates at various stages after the adoption on how many people were using Chivo. The number had hit over one million users in the first ten days following September 7th. Subsequent weeks had seen even more adoption by residents who were beginning to accept the cryptocurrency. BTC price drops down to low $60,000s | Source: ...