El Salvador’s Crypto-Treasury Now Richer by 420 Bitcoins, President Nayib Bukele Says


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.

bukele took to Twitter To share the news with his three million followers on the platform.

with this new lot Bitcoinhandjob El Salvador There are now 1,120 tokens worth approximately $66 million (approximately Rs 494 crore).

The Central American country is rallying in terms of bitcoin adoption.

Many bitcoin atm set up in the country for example, which allows people to transact cryptocurrency Or convert it to fiat.

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.

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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