El Salvador introduces fuel subsidy of $0.20 per gallon to locals who pay in BTC
El Salvador is looking to bolster adoption of its government-issued Chivo Bitcoin wallet by offering discounts on petrol purchases of $0.20 per gallon to consumers who pay using BTC. Salvadoran president Nayib Bukele has announced that local consumers can enjoy a $0.20 per gallon reduction in petrol prices when paying using the government-backed Bitcoin wallet, Chivo.Describing the news as “positive news for the pockets of Salvadorans,” the president announced the subsidy via Twitter on Sept. 30. According to a rough translation, Bukele stated:"The state company Chivo negotiated with the....
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President Bukele revealed gas stations in El Salvador will begin selling each gallon of fuel at a $0.20 discount for those who pay using the Bitcoin Chivo wallet.
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The bitcoin price plunged $10,000 from recent highs as El Salvador officially adopted BTC as legal tender.
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