Friday, June 21, 2024
Good News in the WorldEuropeEl Salvador's historic $400m bitcoin triumph

El Salvador’s historic $400m bitcoin triumph

El Salvador, the trailblazer in adopting Bitcoin, now holds over $400 million in cryptocurrency.

President Nayib Bukele spearheaded the move in 2021, paving the way for daily Bitcoin purchases.

Their innovative approach includes a passport program, BTC conversions for businesses, and mining, all aimed at fostering a robust Bitcoin economy.

Bukele unveiled the government’s Bitcoin address and highlighted their “piggy bank” cold storage.

They’re buying 1 Bitcoin daily until it surpasses fiat currencies.

With over 5,700 BTC bought at an average of $42,700, their holdings surged by $80 million as Bitcoin hit $70,000.

Bukele’s vision sees …

Source video: Yahoo Finance on YouTube

Source image: QuinceCreative / Pexels


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