The president of the Central Reserve Bank of El Salvador revealed that, between January and May 2022, residents received about USD $52 million through Chivo Wallet, the official wallet launched by the government of the Central American country.
- Por Goat more than USD $50 million in remittances were received.
- Despite Bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” Market, El Salvador Remains Positive on Bitcoin.
- President Bukele indicates that Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. is a long-term investment.
Recently published reports reveal that, the official wallet launched by the government of El Salvador, Chivo Wallet, received more than USD $50 million in remittances between January and May of this year.
Chivo Wallet a place where cryptocurrency users can store, send and receive digital assets. received more than USD $50 million in remittances
This was revealed by the president of the Central Reserve Bank of El Salvador Douglas Rodriguez, who presented an overview of the country’s economy during an interview for the local news program Frente a Frente, in which he also presented some data associated with the receipt of remittances through Chivo Wallet.
In this regard, Rodriguez pointed out that Goat processed some USD $52 million in remittances between January and May 2022, noting that this figure is in addition to the capital capital is most commonly defined as the large sum of money you would use to invest. sent by other means, constituting an increase of 3.2% over what was received for the same period in 2021 (at which time the crypto-state wallet was not yet operational).
Let us keep in mind that Goat was launched in September 2021, this in the framework of the official adoption of the Bitcoin as legal tender for El Salvador. Despite problems and criticism at the time, the wallet became the first of its kind launched by the local government to allow Salvadorans to send, store, receive and pay with funds. BTC as well as U.S. dollars.
While Salvadorans are free to use the wallet of their choice to make their transactions with Bitcoin, Chivo was one of the most downloaded by the residents, especially due to the fact that it offered a $30 welcome bonus in BTC to all new users who opened their official accounts.
In terms of remittances, President Nayib Bukele assured that the use of Chivo would be beneficial for residents who receive money from abroad, which could save those interested a global amount of USD $400 million annually in the payment of commissions, which apply in the more traditional services that operate within the country.
El Salvador and Bitcoin in the face of the bear market an area or arena, online or offline, in which commercial dealings are conducted.
The announcement by Rodriguez comes amid a particularly challenging period for the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market, which saw a fairly steep drop from the all-time highs seen in November 2021, with the market being Bitcoin una de las monedas digitales mas afectadas.
Currently every BTC is trading at around USD $20,415 per unit, a figure that represents a 1% increase in the last 24 hours. However, the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. has lost more than 60% from the price that capitalized in November last year, when it recorded record highs near USD $69,000.
This drop has put El Salvador and President Bukele at the center of criticism and finger-pointing, as the country has very ambitious plans based on digital currency:
- First, there is the fact that the president periodically announces that he is adding Bitcoin to the country’s reserves, so the fall has meant losses for the nation if one contrasts the amount of capital invested against the global price of all the BTC en las arcas de la nación.
- Also under scrutiny are the controversial bonds based on BTC, which have not yet been released to the market but about which there are many expectations.
- On the other hand there are the cryptocurrency plans and the construction ofBitcoin City, which are supported in large part by dividends derived from profits from other activities associated with the main digital currency.
However, even though the outlook may be discouraging at the moment, Bukele invited all interested parties to try to remain calm, reiterating that an investment in Bitcoin should be seen as something long-term. The president has also reiterated that they will continue adding BTC to the country’s reserves whenever the opportunity arises.
- El Salvador buys USD $1.5 million more in Bitcoin!
- President of El Salvador, Nayib Bukele, reiterates that Bitcoin price will increase again and asks to keep calm
- Despite Bitcoin’s fall, El Salvador “has not had losses,” says Finance Minister
Version by Angel Di Matteo / DiarioBitcoin
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