Thursday, March 28

The president of El Salvador, Nayib Bukele, announced that the country has bought 410 Bitcoins


This Friday, the president of El Salvador, Nayib Bukele, announced via Twitter that the country has bought a total of 410 more Bitcoins, worth approximately $15 million dollars. Which adds up to a total of 1,801 BTC purchased since September of last year by the Salvadoran government.

El Salvador stores 1,801 Bitcoins to date, since the beginning of September. When the country became the first nation in the world to adopt Bitcoin as legal tender.

Through the social network Twitter, the president of El Salvador published “El Salvador has just bought 410 Bitcoins for only $15 million dollars. Some guys are selling very cheap.” Fountain: Twitter

The Salvadoran Legislative Assembly authorized the Government more than $200 million dollars to promote the adoption of Bitcoin, which has become one of the main economic bets of the Bukele government.

Apart from President Bukele, no official government source provides information in El Salvador about Bitcoin purchases and transactions made with state funds. In fact, the adoption of cryptocurrencies is spearheaded by a private company created by an autonomous government entity.

On November 20, 2021, President Bukele announced the construction of a “Bitcoin City” and the purchase of more cryptocurrencies. For which, a series of BTC-backed bonds would be issued, called “Bitcoin Bonds” for a total value of $1,000 million dollars.

Bukele’s announcement was followed by further falls for Bitcoin, falling below $36,000 for the first time since July of last year.

Bitcoin and other cryptocurrencies continue to fall

Bitcoin and the other cryptocurrencies have had a negative start to the year. And they continue to fall as major economies around the world seek to curb their growing popularity.

In today's session, Bitcoin has fallen 4.4% and is currently trading at $34,860.  Source: CoinMarketCap
In today’s session, Bitcoin has fallen 4.4% and is currently trading at $34,860. Fountain: CoinMarketCap

The other cryptocurrencies have also suffered falls in their price. Ethereum, the second largest cryptocurrency in the world, falls 7.7% in today’s session. Currently, it is trading at around $2,370.

Big investors have been concerned about cryptocurrencies and other “high risk” digital assets. This, since the Federal Reserve of the United States signaled that it could withdraw the economic stimulus sooner than expected.

Governments are also cracking down on cryptocurrencies. This Thursday, the Central Bank of Russia proposed to ban the use of cryptocurrencies and also their mining. Russia is one of the largest cryptocurrency mining nations in the world, yet its Central Bank said that cryptocurrencies “may pose a threat to the country’s financial stability.”

This Russian proposal comes just a few months after China launched a large-scale crackdown on cryptocurrencies, banning both trading and mining within the territory.

Other countries are also promoting a ban on cryptocurrencies. In November, India said it was preparing to introduce a bill that would regulate cryptocurrencies, although much about that proposal is still unknown.





criptotendencia.com