President of El Salvador Nayib Bukele announced another purchase of bitcoin. This time, the government of the country bought 21 BTC in honor of December 21, 2021 of the XXI century.
Nayib Bukele
wrote about it on Twitter. He
addedthat the territory of El Salvador is about 21,000 square meters, hinting that the supply of bitcoin is also limited to 21 million coins, and this cannot be a mere coincidence.
On November 26, El Salvador bought 100 BTC at about $ 54,000 per coin to celebrate Black Friday. After a recent purchase of 21 BTC, which is now worth around $ 1 million, El Salvador has increased its holdings to 1,241 BTC.
The El Salvadorian government began investing in bitcoin on September 7, recognizing it as legal tender. After the legalization of bitcoin in El Salvador, many international organizations began to closely monitor the country’s progress in the cryptocurrency space. The International Monetary Fund (IMF) and the World Bank consider the introduction of bitcoin into the country’s monetary system unacceptable, as it can destroy its economy. Even Ethereum co-founder Vitalik Buterin criticized the mandatory acceptance of payments in BTC, as it contradicts the principles of freedom.
However, El Salvador is already benefiting from Bitcoin adoption. Earlier, Bukele said that the profits from Bitcoin transactions are being invested in the construction of schools. If El Salvador continues to benefit from investing in bitcoin, other developing countries that are monitoring the development of the cryptocurrency industry may follow suit.
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