President Nayib Bukele said there were more active users of the Chivo bitcoin wallet than of any single bank.
El Salvador bought during the latest dip, as bitcoin slipped below $45,000 amid a broader crypto sell-off, President Nayib Bukele tweeted Monday.
There are Chivo ATMs located in Los Angeles, Dallas, Houston, and other cities in the US. El Salvador made bitcoin legal tender on September 7.
After a bumpy rollout, El Salvador is the first country in the world to accept bitcoin as legal tender.
Those aged 25 to 34 were the most in favor in the YouGov poll, held after El Salvador made bitcoin an official currency on Tuesday.
JPMorgan said El Salvador's shaky bitcoin roll-out says more about the country's rushed mandate and less about the future use cases of crypto.
El Salvador became the first country to make Bitcoin an official currency. Here's what the rollout looked like from the ground.
Solana's sol token hit a record high on Thursday, outperforming other cryptocurrencies, as altcoins bounced back from a slump.
Analysts said cryptocurrency investors had "bought the rumor, sold the fact" as El Salvador made bitcoin legal tender.
"This was a little air being popped out of the balloon," crypto billionaire Mike Novogratz said of Tuesday's bitcoin crash.
The crypto unicorn, backed by billionaire Mike Novogratz, provided the Chivo wallet's programming interface and security platform.
President Nayib Bukele announced that El Salvador is installing bitcoin 200 ATMs and preparing over 50 bank branches ahead of September 7.
The market has been "excessively pessimistic" about El Salvador's move to adopt bitcoin as legal tender, Bank of America analysts said.
So-called hyperbitcoinization could take place as early as 2035, according to Finder.com, which surveyed a panel of crypto experts.
A large portion of bitcoin is held up in illiquid entities, with more than 90% not being used in transactions for over a year, JPMorgan said.
Regulators around the world are tightening the screws on crypto, but greater oversight and transparency is needed, CoinShares' James Butterfill said.
54% of Salvadorans polled in a new survey viewed the country's bitcoin adoption as "not at all correct."