The president of El Salvador, Nayib Bukele, revealed last Friday, the 15th, that he started a new plan to acquire Bitcoin across the country. Under the title of “one bitcoin per day”, the program aims for the nation to acquire one unit of the cryptocurrency daily. In fact, there is no defined deadline for the end of the investments.
Bukele announced the news in a post on X, formerly known as Twitter, also sharing the first Bitcoin purchase as part of this new scheme. Although he presented the strategy as something recent, the president stated that it has been in effect since November 2022.
Furthermore, Bukele declared that the acquisition will continue “until Bitcoin becomes too expensive for sand acquire with fiat currencies”, suggesting that the program will have a long run. This is because it has no plans to close in the short term. Thus, an innovation of this new program is that the acquired Bitcoin units are being sent directly to the new physical wallet used by El Salvador to store its digital assets.
El Salvador will send Bitcoins to wallet
Recently, in another publication on X, Bukele announced that the country’s government decided to transfer “the majority” of El Salvador’s Bitcoin units to a “cold wallet”. These physical wallets offer greater security for cryptocurrencies. According to Bukele, the wallet will go into a physical safe in the country, thus marking the first Bitcoin “piggy bank” in El Salvador. In total, 5 thousand units of assets were transferred, valued at approximately US$340 million (R$1.7 billion at current prices). In such a way that it confirms previous statements that the country has more Bitcoin than estimated by the market.
Source: Atrevida
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
