Bitcoin Enforcement Protests In El Salvador, Protesters Burn Crypto ATMs
JAKARTA - Bitcoin detractors and those who protest against the policies of President of El Salvador, Nayib Bukele, have destroyed crypto kiosks in the nation's capital, San Salvador, Wednesday, September 15.
News media, Teleprensa, and others posted videos on social media showing a Chivo-supported stall in San Salvador burning in a crowd of journalists and protesters on Wednesday.
The Bitcoin (BTC) machine, one of many regulated by the government of El Salvador since the acceptance of cryptocurrency as legal tender in the country, was seen vandalized with an anti-BTC logo and a sign that said: “democracy is not for sale.”
The mayor of San Salvador, Mario Durán, said city workers had been pulled out of the area after receiving threats but planned to return in the afternoon. At the time of publication, the damage appeared to be limited to a Chivo machine at Plaza Gerardo Barrios in the center of the capital, but protesters and demonstrators also reportedly set fire to furniture from one of the plaza's shops.
Chivo Kiosk – similar to Bitcoin ATMs – is one of about 200 in El Salvador, part of the government's rollout to accept BTC as legal tender alongside US dollars. President Bukele said he hopes crypto ATMs will eventually be "ubiquitous" in the country but has claimed that no citizens are forced to use Bitcoin.
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Even before the Bitcoin Act came into effect on September 7, El Salvador faced resistance to a seemingly radical law. Protesters calling themselves the People's Resistance and Rebellion Bloc march on the streets of the capital in July. Meanwhile, a group of retirees, veterans, disabled retirees, and other workers formed their own demonstration the following month.
The same day the country's Bitcoin Act came into effect, the price of the crypto asset fell below USD 43.000, which prompted Bukele to say he had "buy the dip" with the purchase of an additional 150 BTC. At the time of writing, the price of BTC was 47.978, having increased by more than 3% in the last 24 hours.