El Salvador President Nayib Bukele says his country is recording more Bitcoin (BTC) purchases than withdrawals.
Bukele tells his three million Twitter followers that Salvadorans have spent over $3 million purchasing Bitcoin at the Chivo vending machines in a 24-hour span.
“Two new Chivo facts:
1 – People are inserting way more USD (to buy BTC) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).
2 – Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).”
Earlier this month, President Bukele revealed in a tweet that millions of Salvadorans are using the Chivo Bitcoin wallet.
“Three million Salvadorans are already using Chivo Wallet.”
According to the World Bank, El Salvador has a population of 6.49 million, translating to slightly over 46% of the country’s population using the Bitcoin wallet.
Last week, the El Salvador President observed that the citizens who opened their Chivo wallets on September 20th, when Bitcoin was trading at slightly below $41,000, had registered significant profits in less than a month.
“If you opened your wallet on September 20 and kept some Bitcoin, at this time has a profit of 40%. In just 21 days.”
Earlier this month, the Bukele also disclosed that the El Salvador had started using geothermal power harnessed from volcanoes to mine Bitcoin. Bukele promised in June to launch a Bitcoin mining operation employing “very cheap, 100% clean, 100% renewable, 0 emission energy” generated from geothermal sources.
BTC is trading at $61,857.18 at time of writing, up 449% in the past year, according to CoinGecko.
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Featured Image: Shutterstock/Giovanni Cancemi
The post El Salvador Citizens Now Buying and Holding Bitcoin, According to President Nayib Bukele appeared first on The Daily Hodl.
