Wednesday, February 28, 2024

El Salvador Set To Purchase One Bitcoin Ever Day.

Crypto enthusiast Nayib Bukele, who is the president of El Salvador, announced that the Central American country will buy one Bitcoin every day. This comes three and a half months after El Salvador made its last Bitcoin purchase in July. It acquired 80 BTC at the price of $19,000 for a coin.

El Salvador, which became the first country in the world to declare Bitcoin as a legal tender in 2021, holds 2,381 BTC at an average buying price of $43,357. But this sum is based on when Bukele publicized Bitcoin investments. It cannot be verified as a public or on-chain record identifying the purchases has not been revealed. El Salvador is said to have spent around $103.23 million on Bitcoin purchases to date.

However, the top cryptocurrency is trading at around $16,500 so the actual value of El Salvador’s Bitcoin treasure is $39.47 million. This means the Central American country sustained losses of more than $63 million. But this hasn’t dampened the love for digital gold. Justin Sun, Tron founder, also said Tron will buy one Bitcoin every day starting tomorrow.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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