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HomeCryptoCurrencyAthena Bitcoin shares rise 340% after El Salvador law goes into effect

Athena Bitcoin shares rise 340% after El Salvador law goes into effect

Athena Bitcoin shares have risen 340% since September 7, when the Bitcoin Law came into force in El Salvador. The cryptocurrency automated teller machine (ATM) operator promised the installation of 1,500 new equipment in the Central American country and also offers support to the infrastructure of the government monero Chivo Wallet.

The shares of the company with headquarters in Chicago (USA) and with a worldwide presence, they are listed on the OTC Markets Pink over-the-counter market, where they remained below the dollar until June of this year. Since then they registered a slight and progressive rise, however, it has been in the last week when they had their most significant increase .

It was as of September 7 when the company’s shares experienced a spectacular rise, climbing from USD 7.75 to USD 33 in less than 4 days , as shown by the Yahoo Finance graph.

This Saturday, September 11, each of the 4,000 million shares of the firm are listed at a value of USD 33, resulting in a market valuation of USD 5,047 million .

The company supported the Government of El Salvador with the installation of 200 ATMs as publicly announced last Tuesday and will assume the installation of 1,300 new teams.

As reported by CriptoNoticias, the deployment of equipment planned by Athena Bitcoin would include the nation in the ranking of the countries with the highest average cryptocurrency ATMs installed.

Athena supported the Government of El Salvador with the installation of bitcoin ATMs. Source; Twitter / AthenaBitcoin.

On the other hand, sources linked to the Chivo Wallet platform confirmed to CriptoNoticias that in effect Athena is part of the infrastructure that supports the wallet developed by the government of El Salvador.

Athena’s servers are based on Amazon Web Services and allow interconnection with exchanges, security companies, national banks, and the Bitcoin blockchain, as published by this information portal in late August.

On the other hand, since May, the bitcoin ATM operator prepares its IPO . For this, the company filed its application with the United States Securities and Exchange Commission, the SEC, as disclosed.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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