Despite the latest Bitcoin dip, President Nayib Bukele tweeted that 1.6 million Salvadorians now use the Chivo Wallet. With a population of 6.5 million, this figure constitutes a quarter of the country’s population.
President Bukele said 1.1 million users had downloaded the wallet. Meaning Chivo adoption has grown by 31% in just three days. He added that the uptake in Bitcoin, in less than a month of going live, is greater than that of 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.”