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Protesters burn Bitcoin ATMs as part of protests against President El Salvador

September 15, 2021 - Around 2 mins mins to read
El Salvador Protests: Bitcoin ATM Burned, Demonstrators Decry Bukele Moves - Bloomberg

Bitcoin critics and opponents of President El Savador Nayib Bukele’s policies have demolished a cryptocurrency kiosk in the country’s capital.

Teleprensa news agency and others posted videos on social media showing a Chivo-supported kiosk in San Salvador went up in flames on Wednesday amid a crowd of journalists and protesters. The Bitcoin (BTC) machine, one of several that has been set up by the El Salvador government since it accepted cryptocurrency as legal tender in the country, is decorated with anti-BTC symbols and a sign that reads “Democracy is.” not for sale “to see. .

Mayor of San Salvador Mario Durán speak City workers have withdrawn from the area after threats but plan to return later that afternoon. At the time of publication, the damage appeared to be limited to the Chivo machine in Plaza Gerardo Barrios in the center of the capital, but protesters have also reported burn Furniture from one of the shops in the square.

The Chivo Kiosk – similar to a Bitcoin ATM – is one of around 200 in El Salvador, part of a government rollout to accept BTC as legal tender in addition to US dollars. President Bukele said he hopes crypto ATMs will be “everywhere” in the country at some point, but has stated that no one will be forced to use Bitcoin.

Even before the Bitcoin law came into force on September 7, El Salvador encountered resistance to the apparently radical legislation. Protesters calling themselves Resistance and Popular Rebellion marched through the streets of the capital in July, while a group of retirees, veterans, disabled pensioners and other workers formed their own protests the following month.

Related: Bitcoin Critics in El Salvador: Protest groups gather as crypto law goes into effect

On the same day that the country’s Bitcoin law went into effect, the price of the crypto asset fell below $ 43,000, leading Bukele to say that by purchasing an additional 150 BTC, he was “buying the dip”. At the time of publication, the BTC price was $ 47,978 after rising more than 3% in the past 24 hours.

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Market

Protesters burn Bitcoin ATMs as part of protests against President El Salvador

El Salvador Protests: Bitcoin ATM Burned, Demonstrators Decry Bukele Moves - Bloomberg

Bitcoin critics and opponents of President El Savador Nayib Bukele’s policies have demolished a cryptocurrency kiosk in the country’s capital.

Teleprensa news agency and others posted videos on social media showing a Chivo-supported kiosk in San Salvador went up in flames on Wednesday amid a crowd of journalists and protesters. The Bitcoin (BTC) machine, one of several that has been set up by the El Salvador government since it accepted cryptocurrency as legal tender in the country, is decorated with anti-BTC symbols and a sign that reads “Democracy is.” not for sale “to see. .

Mayor of San Salvador Mario Durán speak City workers have withdrawn from the area after threats but plan to return later that afternoon. At the time of publication, the damage appeared to be limited to the Chivo machine in Plaza Gerardo Barrios in the center of the capital, but protesters have also reported burn Furniture from one of the shops in the square.

The Chivo Kiosk – similar to a Bitcoin ATM – is one of around 200 in El Salvador, part of a government rollout to accept BTC as legal tender in addition to US dollars. President Bukele said he hopes crypto ATMs will be “everywhere” in the country at some point, but has stated that no one will be forced to use Bitcoin.

Even before the Bitcoin law came into force on September 7, El Salvador encountered resistance to the apparently radical legislation. Protesters calling themselves Resistance and Popular Rebellion marched through the streets of the capital in July, while a group of retirees, veterans, disabled pensioners and other workers formed their own protests the following month.

Related: Bitcoin Critics in El Salvador: Protest groups gather as crypto law goes into effect

On the same day that the country’s Bitcoin law went into effect, the price of the crypto asset fell below $ 43,000, leading Bukele to say that by purchasing an additional 150 BTC, he was “buying the dip”. At the time of publication, the BTC price was $ 47,978 after rising more than 3% in the past 24 hours.

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