Is BitGo Behind El Salvador’s Chivo Wallet? This Old School Mag Thinks So
2021年9月8日 - 7:07AM
NEWSBTC
Where did BitGo come from? In all of this time covering El
Salvador’s Bitcoin Law, the name wasn’t in the picture. Now, all of
a sudden, Forbes claims that BitGo’s technology is behind the
controversial Chivo wallet. How and when did this happen? Or, more
importantly, is this real news or a paid piece to take advantage of
the “historic moment for cryptocurrency adoption.” Related
Reading | NewsBTC Crypto Trading Course. For FREE.99 Not to be
conspiratorial, but Forbes’ tone in this whole piece has a
press-release-feel to it. “For months, El Salvador has kept many of
Chivo’s details under wraps with the nation’s 40-year-old
president, Nayib Bukele, teasing the wallet’s launch on Twitter
just last week. However, Forbes has learned El Salvador appears to
have tapped cryptocurrency unicorn BitGo to provide Chivo’s wallet
infrastructure and security platform, making the Palo Alto,
Calif-based startup the nation’s exclusive hot-wallet provider in a
historic moment for cryptocurrency adoption.” What’s all this about
“cryptocurrency unicorn BitGo” and “the nation’s exclusive
hot-wallet provider in a historic moment”? Is this the appropriate
vocabulary for a legacy media publication like this one? The most
worrying sentence, however, is “Forbes has learned El Salvador
appears to have tapped…” They’re not committing to anything here.
It “appears” this way, but nothing is certain. BTC price chart for
09/07/2021 on Bitstamp | Source: BTC/USD on TradingView.com What
Does BitGo Say About The Announcement? Not El Salvador’s
government, nor Strike commented on the Forbes piece. They did get
a quote from Mike Belshe, CEO of BitGo, who said: “Digital assets
look so different from what we’ve seen with other types of money,
and so people wonder about how [they] fit in, but this is an
opportunity to build financial freedom for the people of El
Salvador” says BitGo CEO Mike Belshe, speaking from his home in
Silicon Valley on Saturday. “The ability to send money in a hurry
on a Saturday night, when banks are closed, across the planet and
at almost no fees, it’s hard to put into words how empowering that
is, and what we’ll see in El Salvador is, people will start
figuring it out.” Did Belshe confirm the news? Is BitGo
behind the Chivo App? He talks about “an opportunity to build
financial freedom for the people of El Salvador.” So yeah, assuming
Belshe was talking about this specific rumor, he seems to confirm
the news. Indirectly. In a non-comital way. To make things worse,
the article ends presenting BitGo as their own marketing material
would: “Founded in 2013, BitGo has grown into one of the biggest
cryptocurrency wallet companies in the world, raising more than $70
million in funding from investors including…” Let’s Remember, What
Did Strike Say About The Subject? Strike’s Jack Mallers has met
with the Bukeles, announced El Salvador’s Bitcoin adoption, and the
company has an office at Bitcoin Beach. Everyone was assuming that
the technology behind the Chivo wallet was going to be Strike’s.
However, if we go back to the interview in which Mallers told the
whole story, our sister site Bitcoinist quotes him saying: “There’s
no commercial agreement between Strike and the government of El
Salvador. “In fact, I advised and gave my opinion of the opposite.
The economies of scale and network effects associated with open
networks are so powerful. Just by plugging in to them you’re going
to get the freemarket competition that every country would die
for.” Related Reading | Tomorrow, The Community Will Buy $30 In BTC
To Support El Salvador’s Bitcoin Law Did President Bukele take his
advice and went with another company? Can we trust Forbes even if
it sounds like a copy-and-pasted press release? Is BitGo’s
technology behind the Chivo Wallet? We will know for sure very
soon. Featured Image by Chräcker Heller from Pixabay - Charts by
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