Early June 2021 “Republic of El Salvador”, a Central American country Make headlines around the world It is the first country in the world to pass a law recognizing Bitcoin (BTC) as a legal settlement currency. along with the US dollar which was originally used as the main currency of the country
The idea came from the unconventional way of thinking of the El Salvador government. Under the leadership of Nayib Bukele, the 40-year-old president hopes the country is open to digital asset investments.
Bukele sees the openness of cryptocurrencies as more
xo slotforeign money flows into the country. It also helps the majority of the population with low per capita income. without bank account The young leader also initiated the passage of the law by spending $400 in the first lot of BTC worth US$20.9 million, or about 680 million baht, by setting up a dedicated government trading team.
According to the Bloomberg report which collects data on investments in BTC by the Government of Bukele found that Since the country passed bitcoin laws, El Salvador has purchased BTC no less than eight times, the most on Oct. 27, 2021, for $420, at $58,630 per coin, at $24.6 million.
According to the latest information released via Bukele's Twitter account on Dec. 21, 2021, the government bought another 21 coins for $49,258 each. It is worth about 1 million US dollars.