October 22, 2021

Protestors In El Salvador Destroy A Cryptocurrency Kiosk In Capital City

BTC cynics and those demonstrating against the president’s policies in El Salvador have burned a crypto cubicle in the capital city of the country. Some videos of the incident were posted by Teleprensa (a news outlet), as well as the others screening the burning down of a Chivo-supported cubicle within the multitude of protestors and journalists on Wednesday. The BTC (Bitcoin) machine was like that of many others deployed by the government of El Salvador since the country has accepted the cryptocurrency to be a legal tender. It can be seen in the videos of the incident that the kiosk was defaced with many anti-Bitcoin logos as well as a sign stating that “democracy-is-not-for-sale.”

Mario Durán (the Mayor of San Salvador) mentioned that the city workers were taken out of that zone after getting a lot of threats; however, scheduled to reappear this afternoon. Currently, the destruction appears to be confined to the machine for Chivo within the “Plaza-Gerardo-Barrios,” situated in the heart of the country’s capital city. Nonetheless, the furniture present in the shops of the plaza is also reported to have been burnt by the protestors.

The Chivo-kiosk, like a Bitcoin ATM, is one among the others of this kind, making it up to 200 throughout El Salvador. These machines were a portion of the rollout by the country’s authorities for adopting Bitcoin to be a legal tender simultaneous to the dollar of the United States. The aspirations have been mentioned by Nayib Bukele, the president of the country, that such ATMs for cryptocurrency will be found anywhere across the country; nevertheless, no one among the citizens will be compelled to utilize Bitcoin.

Even earlier than the implementation of the Bitcoin-Law on 7th September, resistance was experienced by the El Salvadoran authorities about the major legislation. In July, the protestors naming themselves Rebellion Block and Popular Resistance rushed in the streets of the capital, and among them was a group of disability pensioners, veterans, retirees along with other workers who formed their separate demonstration the next month.

On the very day when the Bitcoin-Law of El Salvador was implemented, the value of the asset purchased by the country plunged to less than $43,000 that encouraged the president even more, and Bukele purchased an additional 150 BTC. Presently, it is at $47,978, which is an improvement of roughly 2%. Such protests do not seem to end like this. What is more, to come is still a matter of speculation.