El Salvador Bought Estimated $135,000,000 Worth of Bitcoin
The government of El Salvador buys an estimated $135,000,000 worth of bitcoins for their citizens for free airdrop of $30 worth of BTC.
According to a report by Forbes, the central American region state El Salvador Bought $135 million worth of bitcoins to give as a signup reward for their adult Citizens in their Bitcoin wallet .
As everyone knows, the President of El Salvador legalised Bitcoin as a legal currency which is in effect by 7 September 2021.
Related: El Salvador to Become First Nation With Bitcoin as Legal Tender
Recently they announced the launch of a digital Bitcoin wallet Chov specially made for El Salvador citizens.
And also they announced that every new user of El Salvador’s citizens will get $30 worth of bitcoin as a signup bonus.
Related: El Salvador’s Official Bitcoin Digital Wallet ‘Chivo’
Now to fulfill the promise of $30 Bitcoin worth airdrop in El Salvador, the government is ready to buy $135 million worth of Bitcoins.
According to a data analysis report, this moment by the President of Nayib Bukele will result in a 2.5% increment in the users of Bitcoin.
Since long time many politicians and authorities were trolling Nayib Bukele’s decision to adopt Bitcoin as a legal currency.
Related: El Salvador Will Not Get Any Support By World Bank For Bitcoin Infrastructure
So, Further Nayib Bukele announced that the user had what he wanted in his wallet as a reward. Bitcoin or dollar. Totally depend upon the users and they can set it to doller and then the user will get automatically Dollar instead of Bitcoin.
And also he stated that Bitcoin adoption as a legal tender in El Salvador doesn’t mean that people are restricted to use bitcoin.
People can use dollars alone or Bitcoin alone or both together according to his will & decision.
So through these bold decisions and action to adopt, Nayib Bukele proved himself as a good president. And the impact of these activities by Nayib Bukele we can see in other countries where authorities are ready with their plan to Legalise Bitcoin and few other Cryptocurrencies in the legal class of assets.
Read also: SWISS Central Bank Economist : Blockchain Technology Not Ideal For CBDCs
