El Salvador is pushing the Bitcoin implementation: to initiate the use of the cryptocurrency, citizens will soon receive free bitcoin worth $ 30 from the government. Quasi the Kickstarter for the adaptation. In addition, President Nayib Bukele has now announced the official date from which Bitcoin officially becomes a means of payment.
Bitcoin Airdrop for El Salvadorans
Free Bitcoin from the government-El Salvador is showing off: As President Nayib Bukele announced during an address to the nation, his government will give $ 30 worth of Bitcoin to all citizens of the country. In addition, a new BTC wallet is under development.
The small Central American country is thus sticking to its original Bitcoin plans-even though both the World Bank and the International Monetary Fund (IMF) refuse to support them. Even within the country, the crypto intentions are met with resistance: oppositionists consider the Bitcoin law illegal, insinuate fraudulent intentions and try to take legal action against it. Civil plaintiff Oscar Artero in a press conference on the subject:
“The Bitcoin law is there to plunder people’s pockets, it’s tax-free. […] They want to force us to act.”
Bukele addressed the allegations in his speech. He stressed that Bitcoin will benefit the people and move the country forward. One way or another, Bitcoin is going its way in El Salvador: a few days ago, the first concept images of the volcano mining farms cultural up (“Clean, volcano-powered hashrate coming soon”), and Bitcoin ATM maker ChainBytes has already sent a full set of ATMs to El Salvador.
That being said, the status of Bitcoin as legal tender in the country is now set to go into effect on September 7, 2021. This effectively leads to Bitcoin becoming a legal tender that all merchants must accept for all goods-in addition to the US dollar.
New Bitcoin wallet called Chivo
At the same time, a new Bitcoin wallet called “Chivo” is also being developed, as Bukele explains in a video message. Over this, the mentioned Bitcoin airdrop worth 30 dollars is then distributed. According to Bukele, each citizen automatically receives BTC for $ 30 when logging into the wallet. Or, more precisely,: The $ 30 in Bitcoin will be sent to the user’s wallet once they have verified their identity through the app’s facial recognition software. This, according to Bukele, is intended to promote the spread of cryptocurrency.
Bitcoin tends to respond positively to news from El Salvador so far. Coinciding with the president’s address, the BTC price has gone up by 5%. Currently, the # 1 cryptocurrency by market capitalization is trading at $ 34,158. Also exciting: Whether Paraguay will be the second country to make Bitcoin legal tender?
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