Bitcoin has unleashed a wave of speculation and increase popularity!

Key takeaways from this Bloomberg article about crypto in El Salvador:

Chivo wallet makes it easy to switch between crypto and dollars.

Chivo can be faster than cash or credit cards.

More than 2 million people in the country of 6.5 million are users of Chivo.

Many large chains such as Starbucks, McDonald’s, supermarkets, and some smaller businesses are accepting the digital currency for purchases.

Bitcoin has unleashed a wave of speculation.

Cryptocurrency tradings are becoming much more popular in El Salvador.

Successful rollout produces tangible benefits for the impoverished Central American economy.

Remittances account for over 20% of the nation's GDP. Reduction in remittance fees is one of the main benefits.

Salvadorians utilizing Bitcoin alongside the U.S. dollar could convince other countries to give cryptocurrency a try too.

An El Salvadorian’s father’s advice: “We got used to using plastic, and now we need to start using crypto. The world has to evolve.”

There are criticisms about using crypto as noted in the article which you can read from the link below.

Bitcoin Launch Sparks Wave of Crypto Speculation in El Salvador - Bloomberg