Additionally, the government of El Salvador will airdrop $30 in Bitcoin to every adult citizen of the country through a BTC wallet being developed locally. The wallet, known as Chivo, is expected to be complete in the same month of September. The Chivo app will allow users to transact in Bitcoin as well as converting BTC to USD and vice versa.
President Nayib Bukele informed the world of the Bitcoin app through the following Tweet.
The CEO of Binance, CZ, chimed in on the $30 airdrop to each adult citizen of El Salvador by highlighting that the event had the potential of automatically adding 6 million new users to the Bitcoin network at one go. This in turn translates to a distribution of Bitcoin worth $180 million or more by a government to its people. CZ shared his input through the following Tweet.
Paraguay Announces a Bill to Acknowledge Bitcoin as Legal Tender
As El Salvador is preparing to implement its newest BTC law, Paraguay is following a similar path with the introduction of a new bill that aims at recognizing Bitcoin as legal tender. The new bill is a combined effort by lawmakers of Paraguay and spearheaded by the country’s Deputy, Carlos Rejala.
If the bill is successful, Paraguay will become the second country to recognize Bitcoin as legal tender.