El Salvador launched the use of bitcoin as the official currency together with the US dollar, the day was marked by the sudden drop in the price of the cryptocurrency and demonstrations against its use in the capital San Salvador (Photo).
The Bitcoin law promoted by President Nayib Bukele, was approved last June and It took effect on Tuesday, when the currency registered a fall of more than 17 percent. The government had assigned Salvadorans an amount equivalent to $ 30 in cryptocurrency to start operating.
A day earlier, the Salvadoran government bought 400 bitcoins, which at that time amounted to $ 21 million. with the cryptocurrency price exceeding $ 52,000. Nevertheless, This Tuesday the value of the currency fell to 43,050 dollars, and a few hours later it was placed above 46 thousand dollars. After this fall, Bukele published on his social networks that El Salvador acquired 150 more bitcoins, adding a total of 550 units of the cryptocurrency.
The government electronic wallet called “Chivo”, a word that in El Salvador is used to refer to something “very good”, was rejected by Salvadorans who took to the streets to protest its implementation. In the capital San Salvador, the protesters marched with banners that read phrases such as “I say no to bitcoin”, “Enough of corruption, no to bitcoin.”
.