Earlier today, El Salvador President has just announced that each of their registered citizen of their nationwide crypto wallet app will receive $30 in free bitcoin.
“The wallet app will work anywhere with a cell connection, and you won’t have to have a cell plan for the app”, shared President Nayib Armando Bukele Ortez in a press conference.
The official bitcoin wallet is called Chivo, and citizen of El Salvador can download and use it anytime.
Here’s how it looks:
El Salvador’s President Nayib Bukele also said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on 7th Septemper 2021. The adoption and usage of bitcoin is optional.
El Salvador’s Congress already approved Bukele’s proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.
It is also noteworthy to point out that President Bukele is also a businessman. He started his first business at the age of 18. He also owned Yamaha Motors El Salvador, a company that sells and distributes Yamaha products in El Salvador prior to becoming the president of the Central American country.
As El Salvador rolls out nationwide bitcoin adoption, we expect other countries to also follow suit. Paraguay has earlier today propose a similar bill to make Bitcoin a legal tender in the South American nation, making it potentially being the second country to do so.