El Salvador’s cryptocurrency roll-out
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El Salvador’s pioneering adoption of bitcoin as legal tender hit snags within hours of launching, after the government’s “Chivo” digital wallet app crashed, triggering a global price slump
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Bitcoin price (daily highs, except latest) Plan is brainchild of President Nayib Bukele

El Salvador’s economy
GDP $24.7bn
37.7% Other, including services $9.3bn
24.4% Remittances $6bn sent home by migrants – bitcoin could cut $400m transfer fees
10.8% Agriculture $2.7bn
27.1% Industry $6.7bn


Apr May Jun Jul Aug Sep
US$, 000s 80 70 60 50 40 30 20 10


Apr 15: $64,801.79

Apr 26: $50,668.66

Jun 9: $31,035.49 Lawmakers pass bill to make volatile cryptocurrency legal tender.
Since mid-April, currency has lost 47.4% of its value

Chivo: Slang for cool. State-run wallet is pre-loaded with $30 worth of bitcoin

Sep 6: El Salvador buys 400 bitcoins ahead of  roll-out. Currency climbs to high of $52,691.90

Sep 7: Bitcoin roll-out

Sep 8: Price of bitcoin falls 15% to $44,740.0 following Chivo wallet crash – Bukele “buys the dip”, adding 150 coins to take nation’s holding to 550

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Sources: Bloomberg, Reuters, Coindesk, World Bank Picture: Associated Press
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