Today, September 7, Bitcoin is to be recognized as legal tender in El Salvador. The government of the country has already started purchasing bitcoins – 400 BTC has been bought so far.
The purchase of the first batch of 200 BTC was announced by the President of Salvador Nayib Bukele on September 7 at 00:00 Moscow time. After a few more hours, he reported on the purchase of another 200 BTC. At the current exchange rate, the country’s authorities paid $ 10.5 million for each batch of coins.
“El Salvador bought the first 200 bitcoins. Our brokers will buy much more BTC closer to the appointed date, ”wrote Bukele.
The purchase of bitcoins is part of the launch of a special fund for $ 150 million to support the implementation of bitcoin. The coins will be used to operate the system for exchanging BTC for US dollars and vice versa.
Interestingly, most of the population of El Salvador opposes the government’s initiative to recognize bitcoin as legal tender. At the end of August, there were even large-scale protests in the country against the legalization of the first cryptocurrency.
As the staff of the Jose Simeon Cañas Central American University found out, about 70% of the country’s residents do not support the legalization of the first cryptocurrency. 20% of respondents do not trust Bitcoin, and 43% of respondents believe that legalization of BTC could destabilize the economy of El Salvador.
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