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El Salvadorans Will Begin Buying 1 $BTC Every Day

El Salvador giving the world hope in the darkest of times! Read More 🧵 btc elsalvador inflation


keeps INFLATION away!

El Salvador’s president @nayibbukele announced that the country will begin purchasing 1 BTC every day.

The announcement comes months after El Salvador’s last Bitcoin purchase of 80 BTC (at avg. price of 19,000/coin) in July 2022.

But what’s the reason behind it? In June 2021, El Salvador announced Bitcoin as legal tender in hopes of solving long-standing economic issues.

Since then it has been buying BTC at an average price of 43,000, while the current market price is just over 16,500.

As per reports, El Salvador currently holds around 2,381 BTC for an average price of 43,357.

Nayib Bukele on Twitter
This post is based on this twitter thread.


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