- El Salvador is planning to give $30 in bitcoin to citizens who download the government’s crypto app, Chivo.
- The initiative comes as the much-anticipated “Bitcoin Law” takes effect on September 7.
- President Nayib Bukele in a national address explained how the landscape would look like for 6.5 million Salvadorans.
El Salvador is planning to give $30 in bitcoin to citizens who download the government’s cryptocurrency app, Chivo, CoinDesk reported citing a local news outlet.
The initiative comes as the “Bitcoin Law” takes effect on September 7, making the Central American country the first in the world to accept bitcoin as legal tender, alongside the US dollar.
For over an hour on Thursday, President Nayib Bukele in a national address explained how the landscape would look like for 6.5 million Salvadorans once the law goes into effect.