El Salvador, the country that became the first country in the world to legalize bitcoin as legal tender in September, continues to add to its crypto treasury. Salvadoran President Nayib Bukele revealed on Twitter that the country had bought a new lot of 420 bitcoin earlier this week. El Salvador spent around $25 million (about Rs 187 crore) for this purchase, which was the reason why bitcoin prices skyrocketed. Currently, bitcoin is trading at $62,953 (approximately Rs 47 lakh) per token.
It was a long wait, but well worth it.
We just bought the dip!
420 new #bitcoin????????
– nb bukele ???????? (@nayibbukele) October 27, 2021
The Central American country is rallying in terms of bitcoin adoption.
Salvadorians Are Also Starting to Mine Using Bitcoin volcanic geothermal energy To reduce the carbon footprint of the process.
Bukele also recently revealed that there are more US dollars. being inserted Bitcoin will be exchanged in the country.
Indicating the success of legalizing bitcoin payments, Bukele’s tweet highlighted that it was “wild” that 2.1 million El Salvador citizens are “actively using” the Chivo Wallet, which was launched in June. Launched just three months ago.
2.1 million Salvadorans are actively using @chivowallet (not download).
Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is rapidly moving to more users that all banks in El Salvador combined .
– nb bukele ???????? (@nayibbukele) September 25, 2021
In recent days, however, with none of Bukele’s announcements regarding bitcoin purchases given much detail, a report good Revealed by CryptoReportage.
Salvadorian media has also informed of The bitcoin purchases announced by Bukele are not registered with any institution related to the monetary policy of El Salvador.
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