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đ± #FMI suggests El Salvador minimize exposure to Bitcoin! đš
On Thursday, October 3, the International Monetary Fund (IMF) issued a warning to El Salvador regarding the use of Bitcoin in the country! đ§
đ The IMF recommends El Salvador reduce Law $BTC and increase regulation and supervision of cryptocurrencies. Spokesperson Julie Kozack stressed that the government should reduce exposure to Bitcoin, especially in the public sector. â ïž
While praising President Bukele's budget for 2025, which foresees the country being debt-free by that year, the IMF remains concerned about the risks to fiscal and financial stability related to the use of Bitcoin. đïžđ
What do you think about this?
#ElSalvadorBitcoin #Bukele #MarketDownturn #bitcoinhoy $BTC
On Thursday, October 3, the International Monetary Fund (IMF) issued a warning to El Salvador regarding the use of Bitcoin in the country! đ§
đ The IMF recommends El Salvador reduce Law $BTC and increase regulation and supervision of cryptocurrencies. Spokesperson Julie Kozack stressed that the government should reduce exposure to Bitcoin, especially in the public sector. â ïž
While praising President Bukele's budget for 2025, which foresees the country being debt-free by that year, the IMF remains concerned about the risks to fiscal and financial stability related to the use of Bitcoin. đïžđ
What do you think about this?
#ElSalvadorBitcoin #Bukele #MarketDownturn #bitcoinhoy $BTC
đžđ» El Salvador's Bitcoin Journey đžđ»
El Salvador is making waves in the crypto world, now holding 5,779 Bitcoins since its bold adoption of BTC alongside the US dollar in 2021. This stash is worth around $390.5 million! đ
President Nayib Bukele's leadership has transformed the country into a Central American financial hub. With a fresh electoral mandate, Bukele continues to steer El Salvador on its innovative path.
Their Bitcoin holdings have grown through various channels, including mining operations powered by volcanic geothermal energy, which have produced 473 BTC (worth $31 million). The Freedom Visa program, accepting Bitcoin and USDT payments, is attracting 5,000 skilled individuals with free passports.
Bukele even announced buying 1 Bitcoin per day to boost holdings further. Infrastructure improvements and the Bitcoin Bond are also drawing more investors. đđ
This strategy is boosting El Salvador's GDP and setting a trend for global institutional investors. Expect to see more countries following suit, enhancing crypto liquidity worldwide! đđ°
$BTC
#ElSalvadorBitcoin #TopCoinsJune2024 #BTCFOMCWatch #BTC
El Salvador is making waves in the crypto world, now holding 5,779 Bitcoins since its bold adoption of BTC alongside the US dollar in 2021. This stash is worth around $390.5 million! đ
President Nayib Bukele's leadership has transformed the country into a Central American financial hub. With a fresh electoral mandate, Bukele continues to steer El Salvador on its innovative path.
Their Bitcoin holdings have grown through various channels, including mining operations powered by volcanic geothermal energy, which have produced 473 BTC (worth $31 million). The Freedom Visa program, accepting Bitcoin and USDT payments, is attracting 5,000 skilled individuals with free passports.
Bukele even announced buying 1 Bitcoin per day to boost holdings further. Infrastructure improvements and the Bitcoin Bond are also drawing more investors. đđ
This strategy is boosting El Salvador's GDP and setting a trend for global institutional investors. Expect to see more countries following suit, enhancing crypto liquidity worldwide! đđ°
$BTC
#ElSalvadorBitcoin #TopCoinsJune2024 #BTCFOMCWatch #BTC
Hi Guys,
It's Big & Big #NewsAboutCrypto $BTC New Mining Firm in El Salvador @Zain-Ashfaq !!!
Follow MeX.
New Bitcoin Mining Firm Sets Up Headquarters In El Salvador
El Salvador's allure for companies and global brands continues to grow, with BitcoinBitcoin -0.3% mining company OCEANOcean Protocol 0.0% making a strategic move to establish its headquarters in the country.
This decision positions OCEAN for worldwide success and underscores the country's potential as a hub for innovative bitcoin business operations.
According to their announcement, El Salvador will be the "global hub of business development" for the company. Ocean Mining operates a bitcoin mining pool, meaning that bitcoin miners with their equipment could join Ocean to combine their hashpower and increase their chances of winning the block reward and earning more bitcoin for operating the devices.
"We're excited to be in Bitcoin Country.
The hospitality and welcomeness of El Salvador and President Bukele are meaningful for a small startup like us. We'll go where we are wanted, and we'll vote with our feet," OCEAN's President,
The company made this decision based on El Salvador's potential and legislation and OCEAN's mission-driven approach to decentralizing bitcoin mining. "This helps our core mission of decentralization. It's good for Bitcoin, it's good for OCEAN," he underscored.
OCEAN, led by Chief Executive Officer Jack Dorsey and renowned Bitcoin developer LukeDashjr, stands out from other pools with its unique features.
Miners have the freedom to choose the type of blocks they work with, a flexibility that enhances their control and potential rewards. Additionally, OCEAN's mining pool operates without inscriptions in their mined blocks, a feature that reduces transaction costs and helps combat information spam.
#Megadrop #altcoins #Write2Earrn #ElSalvadorBitcoin
It's Big & Big #NewsAboutCrypto $BTC New Mining Firm in El Salvador @Zain-Ashfaq !!!
Follow MeX.
New Bitcoin Mining Firm Sets Up Headquarters In El Salvador
El Salvador's allure for companies and global brands continues to grow, with BitcoinBitcoin -0.3% mining company OCEANOcean Protocol 0.0% making a strategic move to establish its headquarters in the country.
This decision positions OCEAN for worldwide success and underscores the country's potential as a hub for innovative bitcoin business operations.
According to their announcement, El Salvador will be the "global hub of business development" for the company. Ocean Mining operates a bitcoin mining pool, meaning that bitcoin miners with their equipment could join Ocean to combine their hashpower and increase their chances of winning the block reward and earning more bitcoin for operating the devices.
"We're excited to be in Bitcoin Country.
The hospitality and welcomeness of El Salvador and President Bukele are meaningful for a small startup like us. We'll go where we are wanted, and we'll vote with our feet," OCEAN's President,
The company made this decision based on El Salvador's potential and legislation and OCEAN's mission-driven approach to decentralizing bitcoin mining. "This helps our core mission of decentralization. It's good for Bitcoin, it's good for OCEAN," he underscored.
OCEAN, led by Chief Executive Officer Jack Dorsey and renowned Bitcoin developer LukeDashjr, stands out from other pools with its unique features.
Miners have the freedom to choose the type of blocks they work with, a flexibility that enhances their control and potential rewards. Additionally, OCEAN's mining pool operates without inscriptions in their mined blocks, a feature that reduces transaction costs and helps combat information spam.
#Megadrop #altcoins #Write2Earrn #ElSalvadorBitcoin
El Salvador's Government Workers to be Bitcoin Certifiedđ
El Salvador has embarked on an exciting initiative to certify 80,000 government workers in Bitcoin. Spearheaded by the National Bitcoin Office (ONBTC), this program seeks to improve the public sector's grasp of Bitcoin and its effective management. The training will be thorough, addressing multiple facets of Bitcoin, such as legal regulations, management techniques, and its practical use as legal tender.
This effort is part of El Salvador's larger strategy to weave Bitcoin into its economy and public administration, showcasing the nation's forward-thinking approach to cryptocurrency.
What do you think about the move?
đłïžThank you for voting for me in the current #BinanceSquareCreatorAward
Image Source: econotimes.com
#ElSalvador #ElSalvadorBitcoin #ElSalvadorBTC
El Salvador has embarked on an exciting initiative to certify 80,000 government workers in Bitcoin. Spearheaded by the National Bitcoin Office (ONBTC), this program seeks to improve the public sector's grasp of Bitcoin and its effective management. The training will be thorough, addressing multiple facets of Bitcoin, such as legal regulations, management techniques, and its practical use as legal tender.
This effort is part of El Salvador's larger strategy to weave Bitcoin into its economy and public administration, showcasing the nation's forward-thinking approach to cryptocurrency.
What do you think about the move?
đłïžThank you for voting for me in the current #BinanceSquareCreatorAward
Image Source: econotimes.com
#ElSalvador #ElSalvadorBitcoin #ElSalvadorBTC
đđŒ Breaking news from El Salvador! President Nayib Bukele has made a bold move, transferring a whopping US$407 million worth of Bitcoin to a cold wallet. đ This offline storage solution will be housed in a physical vault within the country, marking a significant step in the nation's embrace of cryptocurrency. đŠđ°
In a social media post, Bukele unveiled the decision, showcasing a photo of the wallet containing 5,689.68 BTC. đŒđŒ "It's not much, but it's honest work," he humbly remarked. This move sheds light on El Salvador's true Bitcoin holdings, surpassing previous estimates and revealing their commitment to this digital asset. đĄđŒ
El Salvador made headlines in September 2021 by becoming the first country to adopt Bitcoin as legal tender, despite facing criticism from entities like the International Monetary Fund. đđŒ And now, with this strategic decision to secure their Bitcoin reserves, El Salvador solidifies its position as a pioneer in the crypto world. đđžđ»
As Bitcoin's value continues to fluctuate, El Salvador's proactive approach to managing its cryptocurrency assets sets a precedent for other nations to follow. đđŒ Stay tuned as the world watches to see how this groundbreaking move shapes the future of finance! đŒđ° #CryptoPioneer #ElSalvadorBitcoin đžđ»đ
In a social media post, Bukele unveiled the decision, showcasing a photo of the wallet containing 5,689.68 BTC. đŒđŒ "It's not much, but it's honest work," he humbly remarked. This move sheds light on El Salvador's true Bitcoin holdings, surpassing previous estimates and revealing their commitment to this digital asset. đĄđŒ
El Salvador made headlines in September 2021 by becoming the first country to adopt Bitcoin as legal tender, despite facing criticism from entities like the International Monetary Fund. đđŒ And now, with this strategic decision to secure their Bitcoin reserves, El Salvador solidifies its position as a pioneer in the crypto world. đđžđ»
As Bitcoin's value continues to fluctuate, El Salvador's proactive approach to managing its cryptocurrency assets sets a precedent for other nations to follow. đđŒ Stay tuned as the world watches to see how this groundbreaking move shapes the future of finance! đŒđ° #CryptoPioneer #ElSalvadorBitcoin đžđ»đ
El Salvador Mines 474 Bitcoin, Boosting Eco-Friendly Crypto Holdings
El Salvador mined nearly 474 Bitcoin using volcanic power, adding $29 million to its national crypto stash. This eco-friendly approach brings their total holdings to 5,750 BTC, valued at $354 million. President Bukele, a Bitcoin champion, has been steadily accumulating Bitcoin through a DCA strategy, reportedly yielding over 43% in unrealized profits. El Salvador's commitment to transparency is evident in their new platform allowing public access to Bitcoin investment data.
#ElSalvadorBitcoin $BTC #Bitcoin
El Salvador mined nearly 474 Bitcoin using volcanic power, adding $29 million to its national crypto stash. This eco-friendly approach brings their total holdings to 5,750 BTC, valued at $354 million. President Bukele, a Bitcoin champion, has been steadily accumulating Bitcoin through a DCA strategy, reportedly yielding over 43% in unrealized profits. El Salvador's commitment to transparency is evident in their new platform allowing public access to Bitcoin investment data.
#ElSalvadorBitcoin $BTC #Bitcoin
NEWS: El Salvador's volcanic bond received regulatory approval from the country's Digital Assets Commission on December 11, 2023. The bond, which is a sovereign debt issue backed by bitcoins, has a face value of $1 billion and is scheduled to be issued in the first quarter of 2024.
The volcanic bond is an initiative of the president of El Salvador, Nayib Bukele, who seeks to raise funds for the construction of a special economic zone in the country. The special economic zone will focus on blockchain technology and cryptocurrencies, and is expected to create thousands of jobs.
Regulatory approval of the volcanic bond is an important step for the issuance of the bond. However, there are still some factors that could affect its success, such as the volatility of the cryptocurrency market and the interest of international investors.
If the volcanic bond is successful, it could be a major milestone for government adoption of cryptocurrencies. El Salvador would be the first country in the world to issue sovereign debt backed by cryptocurrencies.
#ElSalvadorBitcoin $BTC #Bitcoin
The volcanic bond is an initiative of the president of El Salvador, Nayib Bukele, who seeks to raise funds for the construction of a special economic zone in the country. The special economic zone will focus on blockchain technology and cryptocurrencies, and is expected to create thousands of jobs.
Regulatory approval of the volcanic bond is an important step for the issuance of the bond. However, there are still some factors that could affect its success, such as the volatility of the cryptocurrency market and the interest of international investors.
If the volcanic bond is successful, it could be a major milestone for government adoption of cryptocurrencies. El Salvador would be the first country in the world to issue sovereign debt backed by cryptocurrencies.
#ElSalvadorBitcoin $BTC #Bitcoin
đ IMF and El Salvador Close to Agreement on Bitcoin!
đ Key Points:
- IMF-Supported Program
âïž Ongoing negotiations between the IMF and El Salvador to mitigate risks associated with Bitcoin as legal tender.
âïž Focus on strengthening public finances, financial stability, and transparency.
- Focus Areas in Negotiations
đž Public Finances: Target to increase the primary balance by 3.5% of GDP over three years.
đž Bank Reserves: Strengthening to ensure financial system stability.
đž Governance & Transparency: Enhanced focus, particularly regarding Bitcoin usage.
- IMFâs Stance on Bitcoin
đš Potential risks of Bitcoin as legal tender are acknowledged but havenât materialized yet.
đ The IMF stresses improving transparency and mitigating potential risks.
- El Salvadorâs Commitment to Bitcoin
đžđ» Since adopting Bitcoin in 2021, El Salvador has accumulated 5,834 BTC (~$323 million).
đ 12% of Salvadorans reportedly use Bitcoin for daily purchases in 2023.
đ The "Bitcoin City" project continues to symbolize El Salvador's dedication to crypto.
#BlackRockETHOptions #Babylon_Mainnet_Launch #MarketDownturn #ElSalvadorBitcoin
đ Key Points:
- IMF-Supported Program
âïž Ongoing negotiations between the IMF and El Salvador to mitigate risks associated with Bitcoin as legal tender.
âïž Focus on strengthening public finances, financial stability, and transparency.
- Focus Areas in Negotiations
đž Public Finances: Target to increase the primary balance by 3.5% of GDP over three years.
đž Bank Reserves: Strengthening to ensure financial system stability.
đž Governance & Transparency: Enhanced focus, particularly regarding Bitcoin usage.
- IMFâs Stance on Bitcoin
đš Potential risks of Bitcoin as legal tender are acknowledged but havenât materialized yet.
đ The IMF stresses improving transparency and mitigating potential risks.
- El Salvadorâs Commitment to Bitcoin
đžđ» Since adopting Bitcoin in 2021, El Salvador has accumulated 5,834 BTC (~$323 million).
đ 12% of Salvadorans reportedly use Bitcoin for daily purchases in 2023.
đ The "Bitcoin City" project continues to symbolize El Salvador's dedication to crypto.
#BlackRockETHOptions #Babylon_Mainnet_Launch #MarketDownturn #ElSalvadorBitcoin
JUST IN: đžđ» El Salvador President Nayib Bukele says the country will purchase one Bitcoin every day until it becomes unaffordable with fiat currencies.
#BTC #HotTrends #ElSalvadorBitcoin
#BTC #HotTrends #ElSalvadorBitcoin
For the past 665 days, the El Salvador government has been consistently buying 1 BTC every single day, regardless of market conditions! đȘ
đ They now hold a staggering 5,871 BTC, valued at $342M, with 3,046 BTC publicly known to have been acquired at an average price of just $43,888!
đ Wallet: 32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo
#ElSalvadorBitcoin #ElSalvadors #BTC #btc $BTC
đ They now hold a staggering 5,871 BTC, valued at $342M, with 3,046 BTC publicly known to have been acquired at an average price of just $43,888!
đ Wallet: 32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo
#ElSalvadorBitcoin #ElSalvadors #BTC #btc $BTC
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đĄEl Salvador marks three years of Bitcoin adoption đȘ
đŹ According to Cointelegraph, El Salvador is celebrating the third anniversary of adopting #Bitcoin as legal tender, a move that made it the first country in the world to do so on September 7, 2021. The initiative was intended to promote financial inclusion, streamline remittance payments and attract financial innovation.
President Nayib Bukeleâs decision to adopt $BTC has positioned El Salvador as a pioneer in the digital asset space. Alex Momot, founder and CEO of cryptocurrency trading platform Peanut Trade, commented that while it is too early to declare the initiative a complete success, the country has certainly reaped some benefits.
El Salvador has been dollar-cost averaging into Bitcoin since 2021, buying one Bitcoin per day. So far, the countryâs Bitcoin holdings have generated more than $31 million in profits, according to the Nayib Bukele Portfolio Tracker website. The average purchase price of El Salvadorâs Bitcoin was $43,877 per BTC, which is currently trading at $54,300. Momot highlighted that the financial gain strengthens Bukeleâs position, adding credibility to his bold experiment with cryptocurrencies.
El Salvador currently holds a total of 5,865 bitcoins, valued at more than $318 million, according to the countryâs Treasury website. Despite initial criticism, especially after the price of bitcoin fell from its all-time high of $69,000 in November 2021 to as low as $16,000 during the bear market, the country has managed to turn a profit.
đAlways remember to DYOR
#ElSalvador #ElSalvadorBitcoin #TopCoinsSeptember #Write2Earn
đŹ According to Cointelegraph, El Salvador is celebrating the third anniversary of adopting #Bitcoin as legal tender, a move that made it the first country in the world to do so on September 7, 2021. The initiative was intended to promote financial inclusion, streamline remittance payments and attract financial innovation.
President Nayib Bukeleâs decision to adopt $BTC has positioned El Salvador as a pioneer in the digital asset space. Alex Momot, founder and CEO of cryptocurrency trading platform Peanut Trade, commented that while it is too early to declare the initiative a complete success, the country has certainly reaped some benefits.
El Salvador has been dollar-cost averaging into Bitcoin since 2021, buying one Bitcoin per day. So far, the countryâs Bitcoin holdings have generated more than $31 million in profits, according to the Nayib Bukele Portfolio Tracker website. The average purchase price of El Salvadorâs Bitcoin was $43,877 per BTC, which is currently trading at $54,300. Momot highlighted that the financial gain strengthens Bukeleâs position, adding credibility to his bold experiment with cryptocurrencies.
El Salvador currently holds a total of 5,865 bitcoins, valued at more than $318 million, according to the countryâs Treasury website. Despite initial criticism, especially after the price of bitcoin fell from its all-time high of $69,000 in November 2021 to as low as $16,000 during the bear market, the country has managed to turn a profit.
đAlways remember to DYOR
#ElSalvador #ElSalvadorBitcoin #TopCoinsSeptember #Write2Earn
Nayib Bukele shared El Salvadorâs Bitcoin wallet address.
The president of El Salvador published a tweet in which he shared the address of the countryâs BTC wallet and balance. It turned out that the wallet has twice as many coins as previously announced: The El Salvador account has 5,689.69 BTC (about $406 million), and according to Bukeleâs official portfolio tracker, the country has 2,864 BTC (about $194 million) under management. Where the rest of the Bitcoin came from is unknown đ
The crypto community has started sending donations to El Salvadorâs address, and a well-known crypto trader under the nickname âHODL15Capitalâ praised the countryâs president for his commitment to transparency:
âLove the transparency! This is the Bitcoin way!â
El Salvadorâs crypto ideas deserve unicorn status đŠ
#ElSalvadorBitcoin #NayibBukele #HotTrends #BTC
The president of El Salvador published a tweet in which he shared the address of the countryâs BTC wallet and balance. It turned out that the wallet has twice as many coins as previously announced: The El Salvador account has 5,689.69 BTC (about $406 million), and according to Bukeleâs official portfolio tracker, the country has 2,864 BTC (about $194 million) under management. Where the rest of the Bitcoin came from is unknown đ
The crypto community has started sending donations to El Salvadorâs address, and a well-known crypto trader under the nickname âHODL15Capitalâ praised the countryâs president for his commitment to transparency:
âLove the transparency! This is the Bitcoin way!â
El Salvadorâs crypto ideas deserve unicorn status đŠ
#ElSalvadorBitcoin #NayibBukele #HotTrends #BTC
El Salvador moves $386m worth of $BTC into cold storage.
President Nayib Bukele referred to this initiative as El Salvador's first official "bitcoin piggy bank." This reflects their long-term view on Bitcoin as a potential tool for economic growth đ
#BTC #HotTrends #ElSalvadorBitcoin
President Nayib Bukele referred to this initiative as El Salvador's first official "bitcoin piggy bank." This reflects their long-term view on Bitcoin as a potential tool for economic growth đ
#BTC #HotTrends #ElSalvadorBitcoin
More and more countries are turning to cryptocurrency as an investment and security asset đ„
El Salvador has been at the forefront of this movement, with its government purchasing one $BTC every day regardless of its price. But they are not alone!
Recent news reports indicate that the Argentine government met with representatives from El Salvador last week to discuss Bitcoin adoption. This development highlights how countries facing financial crises or significant inflation rates are looking to Bitcoin as a form of digital gold to store value and potentially profit from it. Isn't this remarkable? Which countries are next?
Stay tuned for more updates from MarMag! New posts coming soon :))
#BTCâ #BTC70Kâïž #NewsAboutCrypto #ElSalvadorBitcoin
El Salvador has been at the forefront of this movement, with its government purchasing one $BTC every day regardless of its price. But they are not alone!
Recent news reports indicate that the Argentine government met with representatives from El Salvador last week to discuss Bitcoin adoption. This development highlights how countries facing financial crises or significant inflation rates are looking to Bitcoin as a form of digital gold to store value and potentially profit from it. Isn't this remarkable? Which countries are next?
Stay tuned for more updates from MarMag! New posts coming soon :))
#BTCâ #BTC70Kâïž #NewsAboutCrypto #ElSalvadorBitcoin
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies,
Hi Guys đšđš
El Salvador Keeps Buying BTC, Top BTC Mining Rigs, Blackrock's New 'BUIDL' Fund, and More â Week in Review
El Salvador continues its daily bitcoin purchases, aiming to keep buying until the cryptocurrency becomes too expensive. The top 10 bitcoin mining rigs of 2024 show significant profit margins due to recent value increases.
Blackrock, has submitted a form to the SEC for the initiation of a tokenized investment fund called âBUIDL.â âRich Dad Poor Dadâ author Robert Kiyosaki advocates buying as much bitcoin as one can afford, favoring it over stocks and bonds during economic uncertainties.
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC âBecomes Unaffordableâ With Fiat Currencies, Says President Bukele.
El Salvadorâs President Nayib Bukele shared an update on El Salvadorâs â1 bitcoin a day programâ on social media platform X on Friday.
The â1 bitcoin a day programâ was initiated in November 2022 when Bukele announced El Salvadorâs daily purchase of one bitcoin, starting on Nov. 18, 2022. On Friday, he provided an update on the program, stating that El Salvador will continue to buy bitcoin daily âuntil bitcoin becomes unaffordable with fiat currencies.â He also revealed that the latest BTC from the program has been deposited into El Salvadorâs address that recently received âa large chunkâ of the countryâs bitcoin stash.
On Thursday, the Salvadoran president disclosed that El Salvador has decided to transfer a large chunk of its bitcoin holdings to a cold wallet and store it in a physical vault within the countryâs territory.
In September 2021, El Salvador made history by becoming the first country to adopt bitcoin as legal tender alongside the U.S. dollar, despite warnings from the International Monetary Fund (IMF). Since then, the country has been acquiring bitcoin through various means, including purchases and mining, and the nation has also been generating revenue from bitcoin-related initiatives. Venture capitalist Tim Draper believes that bitcoin will transform El Salvador into one of the wealthiest nations in the world. Last month, Bukele reaffirmed that El Salvador has no intention of selling any of its bitcoins, emphasizing that âat the end, 1 BTC = 1 BTC.â
$BTC
#HotTrends #BTC #Write2Erarn #CryptoNewsđđ„ #ElSalvadorBitcoin
What do you think about El Salvador buying one bitcoin a day and will continue until the crypto is unaffordable with fiat currencies? Let us know in the comments section below.
El Salvador Keeps Buying BTC, Top BTC Mining Rigs, Blackrock's New 'BUIDL' Fund, and More â Week in Review
El Salvador continues its daily bitcoin purchases, aiming to keep buying until the cryptocurrency becomes too expensive. The top 10 bitcoin mining rigs of 2024 show significant profit margins due to recent value increases.
Blackrock, has submitted a form to the SEC for the initiation of a tokenized investment fund called âBUIDL.â âRich Dad Poor Dadâ author Robert Kiyosaki advocates buying as much bitcoin as one can afford, favoring it over stocks and bonds during economic uncertainties.
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC âBecomes Unaffordableâ With Fiat Currencies, Says President Bukele.
El Salvadorâs President Nayib Bukele shared an update on El Salvadorâs â1 bitcoin a day programâ on social media platform X on Friday.
The â1 bitcoin a day programâ was initiated in November 2022 when Bukele announced El Salvadorâs daily purchase of one bitcoin, starting on Nov. 18, 2022. On Friday, he provided an update on the program, stating that El Salvador will continue to buy bitcoin daily âuntil bitcoin becomes unaffordable with fiat currencies.â He also revealed that the latest BTC from the program has been deposited into El Salvadorâs address that recently received âa large chunkâ of the countryâs bitcoin stash.
On Thursday, the Salvadoran president disclosed that El Salvador has decided to transfer a large chunk of its bitcoin holdings to a cold wallet and store it in a physical vault within the countryâs territory.
In September 2021, El Salvador made history by becoming the first country to adopt bitcoin as legal tender alongside the U.S. dollar, despite warnings from the International Monetary Fund (IMF). Since then, the country has been acquiring bitcoin through various means, including purchases and mining, and the nation has also been generating revenue from bitcoin-related initiatives. Venture capitalist Tim Draper believes that bitcoin will transform El Salvador into one of the wealthiest nations in the world. Last month, Bukele reaffirmed that El Salvador has no intention of selling any of its bitcoins, emphasizing that âat the end, 1 BTC = 1 BTC.â
$BTC
#HotTrends #BTC #Write2Erarn #CryptoNewsđđ„ #ElSalvadorBitcoin
What do you think about El Salvador buying one bitcoin a day and will continue until the crypto is unaffordable with fiat currencies? Let us know in the comments section below.
