Amid criticism over Bukele’s decision on adopting Bitcoin, more than half a million people use the Chivo wallet users. Although no one knows why a person or entity conducts a transaction with cryptocurrencies, their potential is evident.
The price of the first cryptocurrency on the market recently rebounded, but it has not yet managed to make further leaps. Bitcoin is trading at around USD 47,780 and has accumulated a 3.89% growth in the last week, according to CoinGecko.
Leading analysts say investors are in expectation as the volume of transactions grows. While the price of Bitcoin has partially recovered, major altcoins have shown increasing variations. Those other cryptocurrencies include Ether (ETH), Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), Litecoin (LTC), Polygon (MATIC), and Bitcoin Cash (BCH).
A Transaction Worth USD 2 Billion BTC Cost Only USD 0.78
According to data from Blockchain.com, there was recently a Bitcoin transaction worth USD 2 billion. Despite that large amount of money, the wallet holder only paid 0.00001713 BTC in fees, equivalent to USD 0.78.
No one knows the purpose of that transfer or the person or entity who made it. However, the enormous potential of financial transactions using cryptocurrency and blockchain technologies has become evident.
That is not the first case of a transaction of that size with minimal fees. In August 2020, there was a Bitcoin transaction worth USD 1 billion with a cost of only USD 4.
The Number of Users of the Chivo Wallet Exceeds Half a Million
The president of El Salvador, Nayib Bukele, announced that there are already 200 ATMs in different parts of the country and the United States. He gave that information one week after the Central American nation adopted Bitcoin as a legal currency.
He also reported that the wallet the government launched has already reached more than half a million users. The Salvadoran Head of State had proposed its creation to encourage the adoption of the cryptocurrency as legal tender.
Bukele said that there are currently more than half a million users of the Chivo wallet. Meanwhile, he is facing criticism locally and internationally for his decision to adopt Bitcoin.
The president also noted that the ATMs in different parts of the country are working perfectly. He said the same about those in the US cities of San Francisco, El Doral, Atlanta, Chicago, Dallas, El Paso, Houston, Laredo, and McAllen.
He explained that Salvadorans living in the United States could use Chivo ATMs to recharge without paying fees. Besides, he explained that the government corrected 95% of the technical errors of the Chivo Wallet and promised it would soon be fully operational.
Bitcoin Core Recently Released Its Version 22.0
On Twitter, Bitcoin Core announced that it released its 22.0 version. That would be the latest version of the primary Bitcoin software client that Satoshi Nakamoto originally released nearly 13 years ago.
At least 120 people worked to complete that new version over eight months. Developer Wladimir van der Laan, who is responsible for maintaining Bitcoin Core 22.0, supervised the work.
By Alexander Salazar
