El Salvador Buys 21 More BTC Units. El Salvador in Central America has just purchased a total of 21 additional bitcoins.
29 Dec 2021, 08:00
El Salvador Buys 21 More BTC Units
El Salvador in Central America has just purchased a total of 21 additional bitcoins. The country has made a habit of “buying dips” every time bitcoin’s price goes lower and this incident was no exception.
El Salvador Adds to Its BTC StashThe country initially made headlines several months ago when it was announced it was working on a bitcoin-based financial agenda that would see the cryptocurrency – number one in the world – become legal tender. This meant it could be used alongside the U.S. dollar, which El Salvador had long been dependent on. Customers could use BTC to purchase everyday goods and services, and businesses were required to accept BTC as payment.
The journey has been relatively rocky in many ways, with El Salvador initially seeking help from organizations like the World Bank in implementing its plans. However, the World Bank ungraciously turned the nation down, saying that bitcoin couldn’t be taken seriously due to its volatility.