El Salvador: Bitcoin ATMs in the country of Bukele
In terms of Bitcoin ATMs, El Salvador does not seem to be moving forward in 2022, dropping to fourth place in the world ranking of countries with the most BTC ATMs, leaving third place to Spain.
El Salvador Not Increasing Bitcoin ATMs in 2022
The country where Bitcoin is legal tender, El Salvador does not appear to have implemented any strategy to increase BTC ATM installations in 2022.
In fact, in the global distribution ranking reported by CoinATMRadarit looks like that El Salvador has fallen from the podiumleaving his third to Spain, which currently hosts as many as 260 crypto-ATMs.
And indeed as it was announced at the beginning of the year, the European country intends to install as many as 100 new Bitcoin ATMs in the country by the end of the yearthanks to a collaboration between Bitnovo and Eurocoin.
El Salvadorhowever, remains at 212 Bitcoin ATM installationsand adding only 7 installations during 2022.
El Salvador and the general decline of Bitcoin ATMs in 2022
In general, analyzing the data for 2022 to date, El Salvador appears to have chosen to reduce or stop the number of Bitcoin ATM installations in his country.
In fact, while 2021 seems to have spurred growth, thanks to the law that made BTC legal tender in the country, today it looks like the long crypto winter prevails insteadregisters a decline for Bitcoin ATMs as well.
Data revealing that as of January 2021, 14,040 ATMs had been installed worldwide, which had become 33,850 as of 28 December. This is more than double the number of ATMs installed in one year.
Unlike, 2022 sees a graph with a flatter growth curve. Compared to 34,393 on January 1, 2022, there are now 38,656 Bitcoin ATMs installed, just over 4,000 machines in 10 months.
A little over a year since the Bitcoin law: the benefits for the country
It was September 7, 2021 when Bitcoin was made official as legal tender in El Salvador, a little over a year ago.
Apparently Bitcoin lawwhile criticized by many, appears to have conferred general advantages upon the inhabitants. In fact, the country’s central bank claimed that thanks to Bitcoin, 70% of the population who did not have access to the banking system now have the opportunity to trade and receive money transfers from abroad.
Further benefits were reported in the tourism sector. El Salvador with the Bitcoin law seems to have attracted many investors, but also many curious who landed in the Land of Surf to see how the system worked.
In the first six months of 2022, the country’s tourism bureau reportedly reported one increase of 82%, with around 1.1 million tourists arriving.
Lugano wants to follow El Salvador’s example
Lugano also seems to want it Follow in El Salvador’s footstepsespecially after making Bitcoin and Tether official as legal tender in March 2022and want to create the Swiss city a hub for cryptocurrencies.
And then while you’re in El Salvador, there’s a famous president Nayib Bukele which has made Bitcoin Law possible, in Lugano it is Michele Folettithe town’s lively mayor who seems to be on the same page.
7 September 2022, Foletti reportedly celebrated the first year of Bitcoin legal tender in El Salvador at the same time as he congratulates Bukele.
Lugano has long become one of the most open cities for events, exhibitions, conferences and case studies, as well as use cases related to the world of blockchain and cryptocurrencies.
Nayib Bukele defies the constitution and stands as presidential candidate again
Despite the explicit ban on presidents in successive presidential terms, it appears that Nayib Bukele has nevertheless chosen to run for a new five-year term.
The revolutionary Bukele does not intend to stop, but either defy the constitution to continue being president of El Salvador.
And indeed, after becoming president in 2019, the president is apparently preparing to run in the next election in 2024, the year in which the fourth halving of Bitcoin will also take place.
