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Some facts of Bitcoin as legal tender in El Salvador, what happened during these 2 years?
Next month is coming one of the most complete analyses of Bitcoin in El Salvador as legal tender from one of the biggest financial entities in Central America..
I am bringing from first hand here, I am sharing some facts will be included in the report. I will try to keep it simple.
**Chivo Wallet**
Total users vs active users
​
|Year|Total Users|Active users|
|:-|:-|:-|
|2021|2,000,000|253,451 (EOY)|
|2022|4,000,000|335,620 (EOY)|
|2023|4,500,000|382,340 |
​
Each user got USD 30 at the beginning of the project, it is estimated that around 4M users were able to redeem it, bringing a total of USD 120M (Initial budget was
* **73%** of the population cash out within a week of their **Chivo Wallet bonu**s
* **500,000 users** registered in the first week
​
Other facts
* **70%** of respondents are **unbanked**
* **71%** of Salvadoreans are aware of the **Chivo Wallet**
* **97%** of the population prefers to **use cash**
* 5% of Salvadorans paid taxes via Chivo Wallet
* 3% of respondents received remittances in Bitcoin via Chivo (Mostly coming from the US)
* 18% of small-medium businesses accept bitcoin as payment method(2023)
* Over **69% of respondents** have felt of lack of understanding and trust of the project and bitcoin
* The main Bitcoin users are below 25 years old, high school education level, male, and banked individuals (24%)
* El Salvador government currently holds **3036 BTC**
* Purchase DCA (Dollar cost average) **$40 701.81**
* In the first week of the project, El Salvador government purchased 550 BTC
* Since El Salvador started to DCA on **November 18, 2022 (Buying 1BTC per day)**, the total expenditure has been **$8,216,047.63** and the current value is **$8,876,360.60**(by today), which means a profit of **$660,312.97 (+8.04%)** (That is why DCA is very important guys) https://imgur.com/MDXyecX
* So far El Salvador government is in reds if we consider since the first purchase which was during last bull run -**$41 410 238.53** (-33.51%)
​
Hope everyone enjoys this data, I will share with you the final report once is out!
#cryptocurrency
Next month is coming one of the most complete analyses of Bitcoin in El Salvador as legal tender from one of the biggest financial entities in Central America..
I am bringing from first hand here, I am sharing some facts will be included in the report. I will try to keep it simple.
**Chivo Wallet**
Total users vs active users
​
|Year|Total Users|Active users|
|:-|:-|:-|
|2021|2,000,000|253,451 (EOY)|
|2022|4,000,000|335,620 (EOY)|
|2023|4,500,000|382,340 |
​
Each user got USD 30 at the beginning of the project, it is estimated that around 4M users were able to redeem it, bringing a total of USD 120M (Initial budget was
* **73%** of the population cash out within a week of their **Chivo Wallet bonu**s
* **500,000 users** registered in the first week
​
Other facts
* **70%** of respondents are **unbanked**
* **71%** of Salvadoreans are aware of the **Chivo Wallet**
* **97%** of the population prefers to **use cash**
* 5% of Salvadorans paid taxes via Chivo Wallet
* 3% of respondents received remittances in Bitcoin via Chivo (Mostly coming from the US)
* 18% of small-medium businesses accept bitcoin as payment method(2023)
* Over **69% of respondents** have felt of lack of understanding and trust of the project and bitcoin
* The main Bitcoin users are below 25 years old, high school education level, male, and banked individuals (24%)
* El Salvador government currently holds **3036 BTC**
* Purchase DCA (Dollar cost average) **$40 701.81**
* In the first week of the project, El Salvador government purchased 550 BTC
* Since El Salvador started to DCA on **November 18, 2022 (Buying 1BTC per day)**, the total expenditure has been **$8,216,047.63** and the current value is **$8,876,360.60**(by today), which means a profit of **$660,312.97 (+8.04%)** (That is why DCA is very important guys) https://imgur.com/MDXyecX
* So far El Salvador government is in reds if we consider since the first purchase which was during last bull run -**$41 410 238.53** (-33.51%)
​
Hope everyone enjoys this data, I will share with you the final report once is out!
#cryptocurrency
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