El Salvador to Give Every Citizen $30 in Bitcoin for Downloading Govt Crypto App

Source: Gizmodo

El Salvador will give every adult citizen $30 in bitcoin, provided they download and register the government’s cryptocurrency app, known as Chivo, according to President Nayib Bukele.

The nation’s 39-year-old president made the announcement late Thursday during a televised presentation where he tried to explain what will happen when El Salvador starts treating bitcoin as legal tender after Bukele’s so-called “Bitcoin Law” takes effect on September 7.

“What we are doing is encouraging the use of bitcoin and encouraging the use of this system, which is going to generate the multiplication of money in the economy,” President Bukele said on Thursday according to a machine translation of his speech from Spanish to English.



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