El Salvador’s mainstream Bitcoin (BTC) adoption is reportedly accelerating amid the current bull run, with more and more citizens selling their US dollar savings to buy Bitcoin. 

Specifically, President Nayib Bukele took to Twitter to reveal details regarding this development, based on insights generated from El Salvador’s in-house wallet service, Chivo. 

“People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs.” Bukele reportedly remarked. 

He additionally called for independent confirmation from media establishments regarding the aforementioned data by paying a trip to the ATMs. 

President Bukele further stated that Chivo has reported 24,076 remittance requests, “adding up to $3,069,761.05 in one day.”

The rise in the amount of converted Bitcoin from the US dollars across the jurisdiction reportedly showed signs of an adjustment in investor sentiment, which came across resistance during adoption from the public audience prior. 

Furthermore, the Salvadoran authority reportedly introduces a variety of subsidies for using Bitcoin, nominally fuel subsidies and tax exemptions. 

El Salvador has reportedly completed the installment of more than 200 ATMs, following the legal recognition of Bitcoin as a legal tender, consequently helping it secure the third spot in the list of top networks of crypto ATMs, after the United States and Canada.

El Salvador’s number of crypto ATMs has reportedly crossed that of the UK, following the deployment of 205 crypto ATMs, primarily to support local Bitcoin transactions and Bitcoin-to-dollar conversions.