El Salvador, the first country to recognize Bitcoin (BTC) as legal cash, has purchased another 21 bitcoins. President Nayib Bukele, who was instrumental in bringing BTC to the public in the nation, revealed that they had purchased an additional 21 BTC to commemorate the final day of the twenty-first century.
President Bukele began a Twitter quotation thread by stating that El Salvador’s whole territory is around 21,000 square kilometers, referencing the 21 million BTC supply. Later, he stated that the BTC purchase would occur at exactly 21:21:21.
In a later tweet, President Bukele confirmed their acquisition. Since September, when Bitcoin became legal money in El Salvador, the president has been buying the dip. The most recent purchase was less expensive, but it was made to commemorate an occasion rather than acquire the dip itself.
El Salvador is benefiting from the use of Bitcoin
The IMF, the World Bank, and other international agencies were outraged when the El Salvador Congress enacted a measure making Bitcoin legal money in June of this year. The International Monetary Fund (IMF) has issued repeated cautions against the adoption of Bitcoin as legal money. The small Central American country, on the other hand, is already reaping the benefits of BTC adoption.
The country has experienced the most significant shift in the remittance business, with Bitcoin ATMs now serving as the major method for sending and receiving money from outside. Apart from that, President Bukele’s continued purchase of the dips has aided them in constructing new hospitals and schools with the profits they gained during the dip.
President Bukele introduced the Bitcoin volcano bonds for a billion dollars, as recommended by full-time BTC proponent Max Keiser, after facing criticism from the IMF and the World Bank and with little possibility of receiving the $1 billion monetary help.