Bitcoin popularity is growing and there is no stop to it!
Key takeaways from this article:
Supporters of the Bitcoin Law may have the last laugh.
46 percent of the population have Chivo Wallet at this time compared to 27% of Salvadorans who have bank accounts as of 2017. The difference is even greater for the low-income Salvadorans.
Salvadorans appear to be converting U.S. dollars into bitcoin and holding onto the digital currency with Bukele tweeted “The incoming USD quadruples the outflow,”
Any bitcoin wallet can be used to interact with Salvadoran merchants.
Bitcoin adoption is likely to continue to rise in El Salvador.
The impact of Chivo is likely greater among low-income Salvadorans who have access to smartphones but not banks.