El Salvador Purchases Additional 200 Bitcoins Ahead Adopting Bitcoin as a Legal Tender Today

Central American country, El Salvador, has just purchased another 200 Bitcoins. The announcement was made by the President of the country, Nayib Bukele via a tweet he published in the early hours of today. The country previously purchased 200 Bitcoins on Monday making their total Bitcoin Holdings 400 units. 

 

Yesterday, he made the announcement about the first purchase of the first 200 bitcoins and in the tweet, he stated that “Our brokers will be buying more as the deadline approaches”. Also, in another tweet the country’s president expressed his excitement as the country will officially begin to accept Bitcoin as a legal tender. 

 

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“Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador”, he said in the tweet. El Salvador will officially begin to accept payments in Bitcoin alongside the United States dollar as from today Tuesday, 7th September, 2021.

 

Back in June, the President made the first announcement to make Bitcoin a legal tender alongside the US dollar and noted the decision wasn’t to sideline the dollar. Although the congress approved the bill in June, there were skeptics that worried over the volatile nature of Bitcoin and the IMF also raised concerns.

 

Bitcoiners Celebrates with El Salvador 

Bitcoin has witnessed a new  epoch in its history today as a country has adopted it as a legal tender. The news came with a lot of excitement and support from the Bitcoin community on the internet. Microstrategy CEO, Michael Saylor expressed his excitement and a certain Reddit community is planning on buying $30 in BTC to celebrate the milestone. 

 

The official wallet of El Salvador is the Chivo wallet and each citizen will receive $30 in Bitcoin from the government. The digital wallet will be used for payments and remittances within the region. Businesses will begin to accept Bitcoin payments as from today. 

 

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