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El Salvador President Confirms The Nation Purchased 200 Bitcoin

09/06/2021

El Salvador President Nayib Bukele confirms on Twitter that the nation and purchased 200 BTC and plans to purchase extra.

The day earlier than bitcoin is formally declared authorized tender in El Salvador, the president broadcasts that the nation has purchased 200 BTC and so they plan on shopping for “much more.”

With this announcement, El Salvador formally turns into the primary nation on this planet to place bitcoin on their stability sheet and maintain it of their reserves. This historic second comes nearly three months after the federal government had voted on a invoice to declare bitcoin as authorized tender, which was finally signed into regulation. However will formally take impact after 90 days on September seventh, 2021.

A rustic including bitcoin to their reserves is making a strong wager on the way forward for the nation. With there solely being 21 million BTC, they’re now saving and rising that wealth in a cash that no authorities or central financial institution can print extra of. With the ever growing demand for bitcoin and the reducing provide, the President has discovered that Bitcoin is the very best automobile to begin storing the nation’s wealth in because it has a unbelievable quantity of upside.

Sport idea is in full swing as El Salvador is adopting a Bitcoin commonplace begging the query of who would be the subsequent nation to purchase BTC? We’ve seen a lot of curiosity coming from international locations like Panama, Colombia, Brazil, and extra. Nations have now entered a race to build up as a lot bitcoin as they will — or get left behind. It is going to be very fascinating to see who buys second and third, making a domino impact till all international locations have purchased some.

The worlds eyes are all on Bitcoin and El Salvador. The world is altering. Children rising up right now gained’t keep in mind a world with out Bitcoin. We’re heading right into a vivid orange future.