According to the recent tweet of the El Salvador president, Nayib Bukele, almost one-third of the country’s entire population are actively using the government’s native Bitcoin (BTC) wallet, ‘Chivo,’ about a month after the country officially adopted the leading crypto as legal tender.
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 that ALL BANKS IN EL SALVADOR combined.
This is wild!#Bitcoin🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) September 25, 2021
Bukele’s tweet specifically mentions that about 2.1 million El Salvadorans among the estimated total population of 6.5 million utilize the wallet. Interestingly, such figures are also reportedly higher than the actual number of bank users within the country. Notably, before Bukele’s robust push on BTC, more than 70% of the entire El Salvadoran population was unbanked.
Despite the constant bombardment of criticisms and negative opinions regarding El Salvador’s stance on BTC and crypto in general, the country remains adamant about taking all the advantages presented to them by the surging industry, especially now that BTC is now deemed standard.
Bukele, himself, remains steadfast despite the many protests and attacks from the World Bank and the International Monetary Fund (IMF) on his recent decision to make BTC legal tender.
Nevertheless, it is undeniable that El Salvador’s ultra-positive outlook on cryptos has set an excellent example to other countries also looking to capitalize on the benefits brought by BTCs.