- The President of El Salvador, Nayib Bukele (Nayib Bukele) stated that El Salvador bought 400 bitcoins on Monday and plans to buy “more”.
- The purchase took place the week that El Salvador made Bitcoin its official currency.
- The transition of Bitcoin has not been so smooth, and Salvadorans protested and were puzzled by the launch of Bitcoin.
- View more stories on the homepage of Business Insider SA.
The President of El Salvador, Nayib Bukele, said on Twitter on Monday that El Salvador had purchased its first batch of 400 bitcoins and plans to buy “more” soon because the country is close to making use of this week. The deadline for Bitcoin to become the official currency of the country.
“El Salvador just bought its first 200 coins,” Bukele said in a statement. Series of tweets on Monday. “As the deadline approaches, our broker will buy more.”
A few hours later, Bukele said that the country had purchased another 200 bitcoins, for a total of 400 bitcoins.
Just one day before the Bitcoin law in El Salvador came into effect, the purchase of Bitcoin was approximately US$20 million. Monday price.
This is the first step in El Salvador’s ambitious attempt to make Bitcoin a legal tender, which will attract a lot of attention from cryptocurrency enthusiasts and monetary policy experts around the world—and at the same time change the daily lives of Salvadorans.
El Salvador has just purchased its first 200 coins.
As the deadline approaches, our broker will buy more.#BitcoinDay #BTC? ? ? – Are you looking? ? ? ? (@b) September 6, 2021
June, El Salvador Passed a law This will make it the first country to use Bitcoin as legal tender along with the country’s current national currency, the U.S. dollar. All entities in the country must now accept Bitcoin as a payment method for goods and services, and Salvadorans will be able to use cryptocurrency to pay taxes.
According to data from the World Bank, El Salvador is the least populous country in Central America. Its economy ranks 106th among 195 countries ranked by the International Monetary Fund.
The country’s upcoming Bitcoin launch is not so smooth.Salvadorans complain They received almost no official news from the government, which left them ignorant of what the transition meant to them.Global banks and rating agencies questioned this decision, saying it could jeopardize the IMF’s much-needed loan negotiations and harm Local insurance company, with Even weaken the Bitcoin network.
Last month, protests broke out in the capital San Salvador. People worried that their pension payments might be wiped out and money laundering activities increased in this country. Corruption is local. A poll in July found that 75% of Salvadorans have reservations about the law.
Nonetheless, Bukele seems confident in the country’s upcoming Bitcoin adoption.On twitter String Last month, the 40-year-old president called the opposition “liars” and they will be exposed once the law goes into effect. He said that those who are worried about their pensions or businesses will be able to continue trading in U.S. dollars as usual, because the use of Bitcoin is not mandatory.
On Monday, Bukele expressed the same level of confidence in him. Monday tweets.
“Tomorrow, for the first time in history, the eyes of the world will be on El Salvador,” Booker wrote. “#Bitcoin did this.”
