CRYPTO

El Salvador introduces টি 0.20 per gallon of fuel subsidy to locals paying BTC

Salvadoran President Naib Buckel has announced that local consumers can reduce the price of petrol by 0. 0.20 per payment when making payments using the government-backed Bitcoin wallet, Chivo.

Describing the news as “positive news for Salvadoran’s pocket”, the president announced the subsidy on Twitter on September 0. Roughly according to the translation, Buckle Stated:

“The state-owned company Chivo has negotiated with the largest gas station companies in our country to sell their stations at 0. 0.20 cheaper per gallon of fuel from tomorrow, including the Chivo wallet.”

Buckle stressed that there is no limit to the discount and any local person or company can get the discount. He added that the waiver would eliminate “significant increases in international fuel prices” and “reduce transportation costs in the supply chain.”

However, some Salvadoran are unsure whether the subsidy will ultimately benefit the public, with Twitter user Adan_3840 Response:

“Those 20 cents will come from all of us, right? Gas stations do not lose, even those who walk are tax-refunded. ”

Others denounced the government’s decision to exempt others who only pay using Chivo through their Twitter accounts. Question Why the administration did not move to give relief in fuel prices on the previous date.

In addition to the news, Buquel further revealed that he has approved a fund aimed at “stabilizing” the domestic price of liquefied gas. The president stressed that while the price of a 25-pound cylinder of liquefied gas in the international market was planned to rise by 1. 1.17, Salvadoran locals would cut costs a bit.

He added that the government would only absorb the increase for one year, noting that consumers would also be given time to reduce global gas prices.

Related: The president of El Salvador teases the geological bitcoin mining farm

El Salvador became the first country to recognize Bitcoin as a valid tender on September Bit. Towards the end of that month, Buquel claimed that one-third of the Salvadoran were already using Chivo less than three weeks after its introduction.

However, viewers have expressed skepticism about reports of a growing buckle of crypto adoption, with outspoken crypto critic and author David Gerrard claiming that Salvadoran officials “fed him a number of buckle to please” which “fell into the slightest test.”

In her 50 foot blockchain attack The newsletter, analyzing the metric usage metrics reported by Gerard Buckle, concluded that government-backed wallets would “transact more per day than global visas” if the president’s data was accurate.