El Salvadore adds new 150 bitcoins; the total reaches 700  

El Salvadore

El Salvadore bought new 150 bitcoins. Nayib Bukele, El Salvadore’s President, announced the purchase in a Twitter Post. With this purchase, the total no. Of Bitcoins becomes 700.  

In his Presidential advice, Bukele said that people must buy Bitcoins. He went on to praise Bitcoins by saying that no one can beat the people who buy bitcoins. The purchase is especially favourable when they are in a dip.    

Bukele’s dream project of making Bitcoin a legal tender is underway. However, there are many hurdles it needs to encounter. Hence, to ease the introduction of bitcoin as a legal tender, the government is taking steps. One of these steps includes establishing a $150 million fund to finance this infrastructure.  

The government is also looking to introduce the ‘Chivo’ wallet and other similar crypto ATMs. As of now, there are around 200 Bitcoin ATMs in El Salvadore. 

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