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.
On Saturday, 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.”
With the rest of the world watching how El Salvador’s Bitcoin experiment pans out, this demonstrates that, despite pockets of dissent, the people are in.
