El Salvador Onboards 3 million Bitcoin Users As Price Rises

2021-10-7 14:05

El Salvador’s President Nayib Bukele confirmed that the Latin American nation has successfully onboarded over 3 million users to its Chivo wallet app in just 26 days.

El Salvador’s President Nayib Bukele confirmed via Twitter Sunday evening that the Latin American nation has successfully onboarded over 3 million users to its Chivo wallet app in just 26 days.

The total population of El Salvador is 6.48 million, meaning nearly half of its citizens have received their $30 worth of Bitcoin within the first month of the government making it legal tender.

The price of Bitcoin declined from about $52,600 in the first few weeks following the historical 7 September adoption, but has spent the month of October rallying in the $47-48k range. The total global Bitcoin hash rate has also risen in this time.

It remains to be seen whether and to what extent a rise in Bitcoin price above that initial 7 September $52k mark changes the public sentiment for Bitcoin adoption El Salvador. 

Notably the government of El Salvador itself has so far amassed 700 Bitcoin, worth over $33 million at the time of writing, up from about $31 million on 20 September. El Salvador last purchased Bitcoin at a dip around the $45,700 mark, at a time Bukele believed the asset was undervalued by the global market.

The country is now in the green in dollar terms on that purchase, but more importantly, Bukele has shown a resolve to buy, hold, and mine Bitcoin long term, and the country remains the only one to publicly hold Bitcoin in reserve.

In just four months, the Bukele has managed to make El Salvador the first nation to adopt Bitcoin as legal tender, distribute $30 worth of Bitcoin to all of the country’s citizens via the state-sponsored Chivo app, install 200 Bitcoin ATMs within the country, purchase 700 Bitcoin for the national reserve, and begin to mine the hardest money known to man on the side of a volcano, through geothermal power that is 100% renewable.

The world is watching this experiment, and Bitcoiners are eager to see what country will be next to adopt Bitcoin as nations are forced to compete or be left behind. The game-theoretic prisoner's dilemma has begun in global politics, and nation states that adopt Bitcoin first are at a great advantage.

origin »

Elcoin (EL) íà Currencies.ru

$ 0 (+0.24%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 8.51 %, 7d: 27.90 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0067293 (-100%)

users million salvador onboarded chivo successfully app

Èñòî÷íèê: bitcoinmagazine.com

users million → Ðåçóëüòàòîâ: 126


Ôîòî:

It’s Free! NEO and ONT Join Forces for a Second Round of a 40M USD Airdrop!

NEO, one of the main blockchain projects in China, has joined forces with ONT to carry out a significant Airdrop to increase not only the volume but also the number of users of both cryptos. Yesterday, the official NEO blog announced that NEO token holders are going to receive $40 million worth of ONT tokens on […] The post It’s Free! NEO and ONT Join Forces for a Second Round of a 40M USD Airdrop! appeared first on Ethereum World News.

2018-7-13 20:01


Ôîòî:

Yes, you’re losing Twitter followers. No, it’s not because you’re an asshole (probably).

Twitter today announced it’d be removing locked accounts from users’ follower counts.  If you’ve noticed a precipitous drop in follower counts today, it’s not you — it’s your followers. Reports surfaced earlier this week that Twitter had suspended a multitude of fake accounts in the months of May and June — apparently in an attempt to curb the rise of bot and their accompanying cocktail of issues.

2018-7-12 02:47


Ôîòî:

Estimated 4 Million Bitcoin is Lost Forever by Users’ Forgetfulness

As much as 20 percent of all the Bitcoin in existence is lost forever, Chainalysis has revealed — as the research firm says it handled contracts worth $750,000 since 2016. ‘We Don’t Help People Find Lost Bitcoin’ In comments to The New York Times, Chainalysis said that user failures to create robust methods of password storage meant as much as $20 billion of Bitcoin is locked out of reach.

2018-7-7 03:00


Ôîòî:

Japan’s Module Platform Offers Users the Chance to Earn Cryptocurrency with Their Gadgets

The company has already collected more than $2 million through a private sale of its coins. This is not surprising, as this platform has the potential to turn the cryptocurrency market on its head in several different ways: secure mining, storage of a large amount of data using gadgets around the world, and financing of blockchain through the creation and development of decentralized applications (DApps).

2018-7-5 20:00


Ôîòî:

Report: 2.3 Million Bitcoin biodatas Focused on by Malware That ‘Hijacks’ Windows Clipboard

A new attack on Bitcoin users which gains control of Windows clipboard to swap out addresses is already monitoring 2.3 million targets, sources reported June 30. The malware, part of a family of threats known as “clipboard hijackers,” secretly gains control of memory, running in the background to ensure users do not notice its presence.

2018-7-2 20:18


Japanese social messaging app LINE will launch a cryptocurrency exchange for 30 coins next month, it revealed Thursday, June 28. In a press release, the company, which counts around 200 million monthly users, confirmed it would offer crypto-to-crypto

Japanese social messaging app LINE will launch a cryptocurrency exchange for 30 coins next month, it revealed Thursday, June 28. As Cointelegraph reported in January, LINE had been in talks with Japanese regulators over launching an exchange.

2018-6-28 16:00


Ôîòî:

Pornhub’s 90 Million Daily Users Can Now Pay With TRON, ZenCash

Major adult entertain website Pornhub has announced it will accept TRON and ZenCash, adding to its cryptocurrency acceptance after beginning payments with Verge in April. Pornhub: Crypto ‘More Anonymous’ Than Fiat In a statement posted on ZenCash’s official blog on June 27, MindGeek, the group which owns Pornhub and thirteen other adult resources, confirmed the decision to accept ZenCash across its products.

2018-6-28 00:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

El Salvador accelerates Bitcoin buying following IMF deal

El Salvador has ramped up its Bitcoin buying a day after agreeing to an International Monetary Fund deal that required scaling back its government-led crypto activities. On Dec. 19, the first nation to adopt Bitcoin as a legal tender and…

El Salvador to change Bitcoin plans to secure $1.3bn IMF loan

El Salvador would also receive $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank Under the IMF agreement, El Salvador would change a legal requirement making businesses accept Bitcoin as payment Since 2021, the IMF has been against El Salvador’s Bitcoin Law, asking the government to “narrow its […] The post El Salvador to change Bitcoin plans to secure $1.3bn IMF loan appeared first on CoinJournal.

IMF recommends El Salvador to limit the public’s exposure to Bitcoin

The IMF wants El Salvador to limit “public sector exposure to Bitcoin” The financial agency’s remarks follow an August statement, which talked about “mitigat[ing] the risks from Bitcoin” The International Monetary Fund (IMF) has recommended that El Salvador reduce the scope of its Bitcoin law and limit the public’s exposure to Bitcoin.