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Chivo Wallet run by the government

Government employees prepare to receive people who want to use the bitcoin ATM during an outage of the Chivo Wallet system in San Salvador, on September 7, 2021.
Government employees prepare to receive people who want to use the bitcoin ATM during an outage of the Chivo Wallet system in San Salvador, on September 7, 2021. Photo: Marvin Recinos/AFP (Getty Images)

Aside from the other countless problems with El Salvador’s adoption of bitcoin as a currency, it’s also antithetical to the cryptocurrency’s libertarian roots to have a government running the people’s main portal to their money. Chivo, local slang for “cool,” went down on Tuesday but was reportedly back up and running by the afternoon.

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