El Salvador plans to purchase 1 BTC per day until it can be purchased with fiat currency.
Nayib Bukele confirmed that his country will continue to purchase Bitcoin until it cannot be purchased with fiat currency.
El Salvador was the first country in the world to adopt Bitcoin as its currency in September 2021. Thanks to the better leadership of the country’s president, Nayib Bukele. Although Nayib has been heavily criticized for his Bitcoin adoption by many opposition leaders and the highest international body for Bitcoin adoption, Nayib has always maintained his plans to adopt Bitcoin strongly.
On March 16, 2024, El Salvador’s President Nayib Bukele said that El Salvador would continue to purchase one Bitcoin per day until it was no longer possible to purchase it with fiat currency.
The country launched a 1 BTC per day purchase program in November 2022, and so far the country has been purchasing Bitcoin without seeing any pumps/dumps in the Bitcoin market.
The state-released cold storage Bitcoin wallet address currently holds 5.69K BTC, which has lost $20 million in value over the past 24 hours.
As we know, the President of El Salvador shared the country’s Bitcoin address with his Joined the adoption journey.
It is worth noting that the country is not only buying Bitcoin, but also mining Bitcoin and is inviting its citizens to join this journey through its Bitcoin Bonds Program.
bitcoin price action
The current trading price of Bitcoin (BTC) is $68,500 and it is up 1% over the last 24 hours.
After a 7% correction in BTC trading price, many cryptocurrency traders showed an inclination towards the meme token. And we can see many meme tokens showing a big rebound.
Read more: Data shows the creation of new cryptocurrency tokens on the Solana network has reached a peak.