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El Salvadorans buying more bitcoin through the Chivo ATMs than they are withdrawing

El Salvadorans buying more bitcoin through the Chivo ATMs than they are withdrawing



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21 Comments

  1. For the first time they have an increasing store of value, BTC crypto wallets are getting more people banked for the first time, and they have money hot in demand globally! VERY COOL!

  2. “yeah, 3 million users because they all are just taking out free money”

    The naysaying trolls that infest this sub could not have been more divorced from reality, as usual.

    I guess the only lifeline they have left is flat out denial of reality and claim that Bukele is simply lying in everything he says.

  3. If only 25% of USD coming into to El Sal goes out of ATMs as cash, that doesnt necessarily mean people are buying BTC with it, but they could be.

    More interesting than USD remittance, which will always fundamentally suck, is direct BTC remittance. Hopefully direct BTC remittance can wipe out dollar remittance entirely.

    BTC going to elsalvador cannot be easily tracked or measured, and local banks wont have to deal with toxic dollars anymore.

  4. Unpopular opinion: I worry about the el Salvadorans who don’t know about the bull market how they may react when we enter a bear market and the buying power of their BTC falls drastically. I think it’s great that El salvador has BTC, but I also fear the reaction the first time it takes that massive hit as we enter the bear market I wish El Salvador had waited for a bear market to adopt BTC as I would hate to see the majority of people leave BTC because they started at the wrong time and didn’t understand the volatility of BTC.

  5. > Since yesterday, Salvadorans are inserting more cash (to buy #bitcoin) than what they are withdrawing from the
    Chivo ATMs.

    2 months ago: “But El SaLvaDoRaNs HaTe BeInG FoRcEd To HaVe BiTcOin…”

  6. This is great – What the government is missing is educational campaigns about Bitcoin – since they might want to jump now in this upcoming BTC bullish run but I doubt they will be ready for a correction when happens – At the end of the day every person is responsible for their finances

What do you think?

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