 | The below graph tells you everything! Pretty impressive, isn't it? In September, El Salvador became the first country to adopt bitcoin as legal tender. As of December 31, 2021, El Salvador had purchased 1,391 BTC. An estimated 3.8 million people use El Salvador’s Bitcoin wallet, Chivo, suggesting 84% adoption among eligible citizens. Chivo was settling $2 million in remittances daily as of October 2021, accounting for roughly 12% of El Salvador’s $6 Billion in annual remittances and more than 2% of its GDP. El Salvador suffers a problem of both unbanking and underbanking. Around 70% of the population lacks access to a traditional bank account. The Chivo crypto wallet seems to solve this with around four million Salvadorians owning one. Viva la revolución! [link] [comments] |
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