El Salvador buys 200 new bitcoins ahead of the country adopting Bitcoin as legal tender

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El Salvador buys 200 more Bitcoin, ahead of the country adopting Bitcoin as legal tender along side us dollar. The president of El Salvador Nayin Bukele announced this on Twitter that El Salvador just bought 200 more Bitcoin and are currently holding 400 Bitcoin, with plans to purchase more Bitcoin later on.

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in June, the Congress of El Salvador approved the law of Bitcoin to be accepted as legal tender in the country from the 7th of September 2021.

All businesses in El Salvador will now accept Bitcoin along side us dollar as payment for goods and service, he believes that this will boost the country's economy.

he also said that in anticipation of the formal adoption of cryptocurrency as legal tender:

“Today September 7th, for the first time in history, all the eyes of the world will be on El Salvador.”

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the government of El Salvador has set up a digital wallet app called Chivo that can be used for payments and remittances in Bitcoin.

As an incentive, all Salvadoran who download and sign up the the Chivo app will be given $30 worth of Bitcoin.

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6 comments
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Wow this is an interesting development in El Salvador. I really wish this will be adopted in my country, because honestly speaking, crypto is the future of the world currency


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