Salvador
El Salvador relaunches Chivo wallet, plans to deploy 1,500 Bitcoin ATMs
El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability. Within the first month of establishing BTC as a legal tender, President Nayib Bukele announced that Chivo wallet onboarded 2.1 million Salvadorans, which by the end of the year amasses 75% of the population. However, the mass adoption met with numerous roadblocks, including system issues and missing funds. Seeking a permanent solution for over 4 million BTC users, the government of El Salvador partnered with a white label infrastructure pr...
President Bukele fires back at critics on ‘Bitcoin experiment’
On Thursday, Salvadoran President Nayib Bukele reaffirmed his belief for Bitcoin (BTC) supremacy on Twitter once again, this time stating that after widespread adoption occurs, “it’s game over for fiat.” The Salvadoran president has been a mainstay in news headlines due to his government’s regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that Bitcoin is a bad idea for the nation. Related: El Salvador buys a smokin’ hot 420 more Bitcoin President Bukele’s recent tweet comes as the international community launches a barrage against El Salvador for its “Bitcoin experiment.” The International Monetary Fund criticized El Salvador’s move t...
