Nayib Bukele : We Bought 400 Bitcoins (BTC)


Nayib Bukele, President of El Salvador, stated that 400 Bitcoins have been purchased by his government to celebrate the legality of Bitcoin today, Tuesday September 7, 2021. Bitcoin prices soared to $52,000

Bukele says that the amount of Bitcoin purchased on Monday, September 6, 2021 was that much. It was initially 200 BTC. Then it increased to 200 BTC. According to Reuters, El Salvador currently holds 400 BTC in Bitcoin.

The local parliament approved Bitcoin law yesterday as a legal tender.

According to the president of 40 years, Bitcoin will reduce the cost of sending El Salvadorans to El Salvador.

Bukele said : Bitcoin in El Salvador Not Required

Although Bitcoin use is not required, El Salvadorans are sceptical about using it. They are wary of volatility in prices, which some critics claim can raise regulatory and financial risk for financial institutions.

“Residents can now download the application and receive Bitcoin payments or gift vouchers starting September 7. Nayib Bukele stated that citizens are free to use or refuse the application if they wish.

Many veterans and retired people took to the streets a long time ago. They protested and refused to accept Bitcoin as their pensions.

According to an opinion poll conducted by local businesses, the results were similar. They are skeptical that it is possible to pay employees salaries with Bitcoin. They rejected this obligation and demanded that clearer regulations be established.

This demand was immediately met by the Bukele Government, who stated that they would reconsider the issue of employees being paid using Bitcoin.

El Salvador has two legal currencies for payment: the US Dollar since 2001, and the Bitcoin effective today, September 7, 2021.

This Latin American country was the first to adopt Bitcoin as a legal currency and is now equal to the US dollar.

Bitcoin price continues to rise

At the time of the announcement, Bitcoin prices continued to climb, continuing the gains made since July 20, 2021 yesterday.

Standing at $52k, This puts you in a great position to break the $60K per Bitcoin psychological zone. Yesterday’s record high was $64,400, which was set on April 14, 2021.

Bloomberg Intelligence Senior Analysts project that Bitcoin will reach $100K per BTC in the next year. ETH will then rise to $5K. The price of ETH recently reached a critical level at $4K.

Read Also: Cryptocurrency Trends: Education For Millennials

Leave a Comment

Your email address will not be published.

You may also like


VR Founder Says Bitcoin Is Ponzi Scheme


The person who started the VR field stated that Bitcoin is merely a component of the Ponzi scheme, and not anything else since it’s lucrative for early investors, and less so for late Investors.

In an interview on The Lex Fridman podcast, the founder of Virtual Reality Field, Jaron Lanier, spoke about his negative opinion on bitcoin.

As per Jaron, Bitcoin is profitable for those who invested for a long time or early in the process. Early investors make massive profits, while other late investors made less money.

Jaron’s a Computer scientist, the way he approached it was from an engineering point perspective and stated that Bitcoin’s network with wealthy investors to investors with low income as well as gambling, is closely linked to it. He stated that Bitcoin is a major part of the market, but it’s…

View More Article

Psychology Relationships in Cryptocurrency Trading


Psychology Relationships in Cryptocurrency Trading – Each time you complete another Bitcoin transaction, you’ll be influenced by a strong inner belief system. When you click the button to buy or sell and confirm your goals and perception of your self-worth.

If you get a dose of news that is bullish (bearish) news your financial situation, as well as your self-esteem, could impact. You may overreact and cause you to trade excessively or hesitantly. A fundamental comprehension of the mentality behind Bitcoin trading can help you ensure that your investment and trading strategy is stable.

What is the Psychology In Trading Cryptocurrency?

The psychology of trading is an internal condition of self-awareness, determination, self-esteem and self-control, and a sense of accountability. It affects all aspects of your investment and trading activities and your decisions.

The psychology of…

View More Article

Elon Musk Urges Dogecoin Community To Run Own Nodes


In the past, a DogeCoin developer advised the community to upgrade the node to decrease Doge transaction fees, and also to expand the efficiency of the network.

On October 13, 2021, Shibetoshi Nakamoto ( Billy Markus) the developer of DogeCoin who has left the DogeCoin project, is no longer part of the DogeCoin project, took to Twitter to ask members of the DogeCoin community to help support the DogeCoin network with the latest update of nodes.

Shibetoshi Nakamoto ( Billy Markus)

Shibetoshi tweeted that he would like to maintain the transaction and data of the blockchain system, the running of nodes is a crucial aspect. And it would be better if DogeCoin community members upgrade their nodes to 1.14.4.

Shibetoshi stated that 1.14.4 nodes will be able…

View More Article

Russia Has No Intention To Ban Crypto Like China


The Deputy Finance Minister of Russia confirmed that they are not gonna ban Crypto and also they believe that Blockchain has better potential in the future of Russia.

In the past, many politicians of Russia trolled crypto and crypto related businesses and their statements were showing an indication that the Russian government may ban crypto permanently. But the latest statement by a Russian official gives a better vibe for the crypto community of Russia.

According to a local media report, The deputy finance minister of Russia, Alexey Moiseev, stated that they have no plans to ban crypto totally like China. further added

“At the same time, citizens can buy (cryptocurrencies) and use wallets outside the Russian Federation. So it will remain so, I think. There are no plans to change anything.”

So people have…

View More Article