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Bitcoin (BTC) adoption in El Salvador picks up steam: 1,500 bitcoin ATMs are installed

Earlier today, Crypto Insiders reported that El Salvador’s controversial bitcoin (BTC) law will come into effect on September 7. The Central American country also announced that all residents will receive as much as $30 in bitcoin. That’s probably close to $150 million in BTC being distributed to nearly 5 million people.

There is even more positive news about the bitcoin situation in El Salvador. Athena Bitcoin announces that the company will install no fewer than 1,500 bitcoin ATMs, also known as BATM, in El Salvador. Reuters news agency reported this on June 25:

Athena Bitcoin is investing more than $1 million to install the new machines and hire staff. The Chicago company recently initially proposed installing 1,000 bitcoin vending machines, but then El Salvador president Nayib Bukele asked, “How about 1,500?”

“The president of El Salvador, Nayib Bukele, presented us with a tough challenge of 1,500 ATMs, we are going for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable.”

Said Matias Goldenhörn, Athena’s Director for Latin America. Athena recently installed two vending machines in the country that are already operational. One is on the beach of El Zonte as part of an experiment to make the place one of the world’s first bitcoin economies. Athena plans to install “dozens” of vending machines in the coming months.

This week, Byecoin also received permission from the Dutch Central Bank (DNB) to reactivate its bitcoin ATMs. It is the first cryptocurrency ATM company in the Netherlands that is now registered with DNB. Byecoin’s vending machines convert cash into bitcoin and/or ethereum (ETH).

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