El Salvador will buy 1 BTC per day until the fiat currencies will be able to purchase

Nayib Bukele confirmed that his country will buy Bitcoin continuously until it will be unaffordable to buy with fiat. 

El Salvador was the first country in the world which adopt Bitcoin as a currency in Sep 2021. Thanks to the better leadership of Nayib Bukele, the president of the country. Nayib faced huge criticism for Bitcoin adoption from many opposition leaders as well as top international bodies for adoption of Bitcoin but Nayib always remained strong with his Bitcoin adoption plan. 

On 16 March 2024, El Salvador president Nayib Bukele said that his country will continuously buy 1 Bitcoin per day until it becomes unaffordable to buy with fiat currencies.

Per day 1 BTC buy program was started by this country in Nov 2022 and so far this country has been buying Bitcoin without looking at the pump/dump of the Bitcoin market.

The country’s publicised cold storage Bitcoin wallet address currently holds 5.69K BTC, which devalued $20 million over the past 24 hours.

As we know, the El Salvador president shared the country’s Bitcoin address just a couple of days ago with his X (formerly Twitter) followers, so many people jumped to join the Bitcoin adoption journey of this country via a small amount of donation of Bitcoin.

It is worth it to note that the country is not only buying Bitcoin but also mining Bitcoin as well as inviting citizens to join this journey via the Bitcoin bond program.

Bitcoin price action

The current trade price of Bitcoin (BTC) is $68,500 & this trade price has been 1% higher over the last 24 hours. 

After a 7% correction in the trade price of BTC, many crypto traders showed an inclination toward meme tokens. And we can see that many meme tokens show big rallies.

Read also: Data shows the Birth of new Crypto tokens on the Solana network is at a peak