The Magazine for Asian Investors
The Bitcoin nation of El Salvador has further encouraging news to report a month after its official launch as a legal currency. Bitcoin interest seems to continue to grow among the population, with more and more citizens exchanging their fiat in the form of U.S. dollars for Bitcoin.
In a single day, remittances totaling $3,069,761.05 were reported. Significantly more U.S. dollars are being converted to Bitcoin than are being withdrawn from the approximately 200 Bitcoin machines, according to El Salvador’s President Bukele. The country’s own crypto wallet Chivo reported over 24,076 transfers in one day.
The population is slowly seeing the potential that Bitcoin holds and is beginning to embrace the cryptocurrency. We are eagerly awaiting the next success story from El Salvador.