El Salvador has already made history after adopting the largest cryptocurrency as a legal tender. However, the country does not cease to amaze the people, especially those who have been slightly skeptical of El Salvador’s decision of BTC adoption.
The crypto enthusiasts have been taken by surprise once again as a crypto ATM rollout to access Bitcoin has been announced.
Athena, a company in the United States has announced it will be providing El Salvador with at least 1500 BTC ATMs that will make it a lot easier for people to access the crypto.
This new development is not only futuristic but is also expected to work in the best interest of El Salvador’s economy and enhance the use of BTC around the world.
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Major Things on the Horizon for BTC and El Salvador
El Salvador is the first country in the world to recognize the flagship cryptocurrency as a legal tender. Many people have been unconvinced of the advantages that adopting Bitcoin can bring about for El Salvador. Despite the criticism and doubts, the Central American country has been going strong on its plans to revolutionize the financial system for the citizens.
After announcing the construction of a volcano-powered mining facility, El Salvador’s President grabbed everyone’s attention again when he responded to a tweet by Athena Bitcoin.
Now as planned, Athena will be providing 1500 Bitcoin ATMs to El Salvador, according to a company representative.
The plan is to start a small rollout that will include a few dozen machines to properly develop a business model. As Athena’s director for Latin America stated:
“Initially we are going to bring dozens of machines, (we’ll) test what the business model is like in El Salvador, which will probably be different than in the United States,”
There are currently two operational Bitcoin ATMs in the country located in El Zonte beach and El Tunco. However, Athena plans to invest approximately $1 million to install more BTC ATMs, especially in the regions where people receive payments from foreign countries.
The initiative to install BTC ATMs in El Salvador extends further and also includes hiring staff for the machines and establishing an office that will officially handle the operations in the country.
Growth for BTC and El Salvador to be Expected?
The adoption of Bitcoin by El Salvador has received some backlash and even experienced some setbacks. It was reported in recent news that the World Bank refused to help the country in its transition and the opposition party in El Salvador also filed a lawsuit claiming that the BTC adoption can be damaging for the country.
Despite the resistance, El Salvador seems to be going strong on the originally planned idea, which is to adopt BTC and mine BTC with clean and green energy.
But could President Bukele’s enthusiasm be enough? That is yet to be seen, however, the support from other companies such as Athena can indicate possible growth for both the country and the digital asset.
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