Do you know “the coolest dictator in the world” ? This is the President of El Salvador, Nayib Bukele . In any case, this is what he said in his bio on Twitter . “El Dictador más cool del mundo mundial” (the coolest dictator in the world). The president also indicated that in terms of cryptocurrencies, his country’s Chivo wallet reached 2.1 million active users; enough to respond to the critics who predicted the failure of his project.
2.1 million active users
Failure, there will ultimately not be! The evil tongues spoke badly this time. Indeed, rather than a failure, the Chivo project led by Mr. Bukele is doing extremely well. It currently has 2.1 million active users . But be careful, we are talking about active users, not the number of downloads. Moreover, Bukele himself drew attention to this detail. He also clarified that Chivo has more users than any bank in the country and it could even have more than all the banks in El Salvador combined.
2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).— Nayib Bukele 🇸🇻 (@nayibbukele) September 25, 2021
Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users that ALL BANKS IN EL SALVADOR combined.
This is wild!#Bitcoin🇸🇻
If Bukele’s vision of the future materializes, he will be able to reach a new milestone in his ambition project. The president dreams of ensuring that banking services are fully democratized and accessible to everyone.
If Bukele is fully in his Chivo project , he has not forgotten Bitcoin (BTC). A relentless defender of cryptocurrency, he announced that he was “buying the bottom of the wave” when the value of the digital asset fell very low.
El Salvador, very controversial
Nayib Bukele has pharaonic plans for his country regarding the cryptocurrency sphere. To encourage the transformation of El Salvador into a major mining center and attract investors, he had shared plans and announced that he had instructed one of his ministers to carry out the project. Note that the promised facilities will be completely ecological , if we are to believe the information provided by the president.
El Salvador has also taken other steps to become a haven for foreign Bitcoin (BTC) investors . The country does not tax them on the increase in capital or income.
I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos 🌋— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021
This is going to evolve fast! 🇸🇻 pic.twitter.com/1316DV4YwT
Despite its various strategies, El Salvador still struggles to convince its peers. Several countries have revealed that they are not ready to keep up with its momentum. Moreover, all were interested in the many demonstrations that there have been in the country. Indian Finance Minister Nirmala Sitharaman even referred to it in an interview. She also took the opportunity to question the transparency of Bitcoin (BTC).
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On the legitimacy of BTC in El Salvador, The Blockchain LatAm Report 2021 from Sherlock Communications , said: “Half of Latin Americans agreed that it was a good idea overall, and 43% said they believed their country should follow suit. Some level of ambivalence was noted, with 37% of the region neither agreeing nor disagreeing that it was a good idea overall, as well as 34% who did not agree. not specified if they thought their own country should follow suit ”.
El Salvador of Nayib Bukele wants to start a new dynamic regarding the cryptocurrency market. Presenting himself as the “coolest dictator in the world,” the president shed some light on the Chivo project , which he says has 2.1 million active users.