President Bukele noted that Chivo had collected 24,076 settlement demands totalling $3,069,761.05 within one day.
El Salvador’s acceptance of Bitcoin (BTC) has seen significant momentum during the ongoing bull run, as residents gradually convert their U.S. dollar reserves into BTC reserves.
President Nayib Bukele announced the change on Twitter based on information obtained from El Salvador’s internal wallet management, Chivo.
President Bukele urged news sources to independently verify the information by visiting ATMs themselves. Furthermore, President Bukele noted that Chivo announced 24,076 settlement demands totalling $3,069,761.05 within one day alone.
A recent spike in dollar-to-Bitcoin transactions shows an evolution of investor attitudes, after initially facing resistance during reception by society. Furthermore, Salvadoran authorities offer various incentives for using Bitcoin, such as fuel subsidies and duty exemptions.
El Salvador has installed over 200 ATMs since adopting Bitcoin as a legal currency, becoming the third-largest organization of crypto ATMs after the United States and Canada.
El Salvador recently outdid Britain by installing 205 crypto ATMs to serve local Bitcoin exchanges and Bitcoin-to-dollar conversion services.
Recently, the Salvadoran government revealed it will build a $4 Million veterinary medical clinic using proceeds from Bitcoin’s upsurging market. President Bukele revealed that this new emergency clinic will include four working rooms, four crisis centers, 19 work stations and recovery area – an impressive array of resources which he said they intend to utilize to build it: “We chose to invest part of that money here: in creating this clinic for our furry companions!”