El salvador with a population of 6.5 million records 1.6million Salvadorians have downloaded chivo wallet. President Bukele announces this achievement in a recent tweet as bitcoin dips.
“1.6 millones de salvadoreños ya utilizan @chivowallet 🥳 Y subiendo…#Bitcoin🇸🇻“
— Nayib Bukele 🇸🇻 (@nayibbukele) September 20, 2021
President Bukele says 1.1 million users downloaded the wallet on Saturday. This means that Chivo adoption is seeing 31% growth in just three days. He compares this bitcoin upward trend in the country with 40 years of legacy banking.
“1.1 million Salvadorans already use @chivowallet (and we haven’t enabled 65% of phone models yet). It seems that we will be able to bank more people in 1 month, than they did with nationalizations and privatizations of traditional banks in 40 years.”
Even as the rest of the world are still watching el Salvador’s experiment and expressing uncertainties. The citizens are however going all in into the system.
The Data Speaks Volumes
El Salvdor seems divided as criticism rises after President Bukele made bitcoin a legal tender in the country. Additionally, the move is getting wild reactions from the citizens as well.
Furthermore, Protestors expresses fear and they believe there’s an extreme price volatility. They say it will rob minimum wage workers of money they can not afford to lose, as they say bitcoin is not for everyone.
Even the wallet shows bugs issues and saver problems as bitcoin price continues falling since the country’s first adoption at $52,000.
Nonetheless, records shows 25% of the Salvadorians are downloading the Chivo Wallet within two weeks. President Bukele notes that this is a significant proportion support to his plans to economic prosperity.
President Bukele Confidence Untampered!
Despite the crash in the market since El Salvador’s bitcoin adoption, President Bukele shows more confidence. For Instance, He explains how El Salvador bought an additional 150 Bitcoin on Monday.
Additionally, this takes the tally to 700 $BTC in total.
However, The market sentiment turns from neutral to fear, with only 2 points above extreme fear level.
President Bukele is moved with fear as he states that there’s no going back for El Salvador. Conclusively, Judging with the Chivo Wallet data, the citizens also shares same convictions with President Bukele.