SAN SALVADOR, El Salvador—Tiny and impoverished El Salvador’s move to become the first country in the world to adopt bitcoin as legal tender got off to a bumpy start, as the government took its bitcoin e-wallet offline for several hours after tens of thousands of people tried to download the app, overloading servers.
The administration of President Nayib Bukele, 40, plans to spend more than $225 million on the rollout, including a $30 credit in bitcoin to those who take up Chivo—local slang for “cool”—the government-run e-wallet that can be used for purchases in bitcoin or U.S. dollars.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Author: Julie Osborn
Last Updated: 1704266161
Views: 1466
Rating: 4.9 / 5 (117 voted)
Reviews: 95% of readers found this page helpful
Name: Julie Osborn
Birthday: 1980-07-25
Address: 156 Jones Row Apt. 614, Port Larryfort, ID 15723
Phone: +4784667870382586
Job: Article Writer
Hobby: Cycling, Chess, Origami, Skiing, Fishing, Playing Piano, Hiking
Introduction: My name is Julie Osborn, I am a courageous, risk-taking, frank, unyielding, cherished, vivid, resolute person who loves writing and wants to share my knowledge and understanding with you.