El Salvador Reports Breakthrough in Bitcoin Adoption

• El Salvador has reported success in its adoption of Bitcoin as legal tender

• The president of the country Nayib Bukele took to Twitter to announce that 2.1 million Salvadorans are currently using the Chivo wallet

• Going by the World Bank’s population data, this indicates that 32.56% of the country’s population have warmed up to the Bitcoin initiative in less than a month

Only a month after the official introduction of Bitcoin as the legal tender, a good portion of the country’s population have accepted the use of the coin.

The president of El Salvador Nayib Bukele has taken to Twitter to show off the success of the cryptocurrency in the country.

Bukele stated that more than 2.1 million residents of the Latin American country have started using the government-supported wallet for Bitcoin, Chivo.

“2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads). 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!”

Going by the World Bank’s population estimate, El Salvador has a population of 6.45 million people.

This indicates that 32.56% of the country’s population have started using the wallet, within less than a month of introducing it.

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Chivo wallet was officially issued as the wallet of the government when Bitcoin was introduced as the legal tender of the country.

The update from the president will be welcoming news for many who were worried about the integration of Bitcoin as legal tender in the country.

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