As El Salvador braces to make history as the first nation of the world to make bitcoin a legal tender, the country has bought 200 new BTC, while it holds 400 BTC.
President Bukele Nayib made this announcement on Twitter. “El Salvador just bought 200 new coins. We now hold 400 BTC,” he tweeted.
Nayib, who has taken it upon himself to give regular updates about developments surrounding the official launching of BTC as legal tender, announced that Chivo wallet, El Salvador’s official Bitcoin wallet, is now available for download in AppGallery. He also assures that it will soon be released on Google Play and App Store.
With this new development, El Salvador has broken three records all at once, using one stone to kill three birds. First, it is the first country to implement Bitcoin as legal tender. Next, it is the first country to buy Bitcoin, and finally, it is the first to give BTC to its citizens.
In the last 24 hours, bitcoin is down by 0.66%, with a current price of $51,073.47 as at the time of writing this. Within 24 hours, bitcoin dropped to $50,577.41 low and $52,912.92 high. The trading volume of bitcoin in the last 24 hours is $1.27M. The current market capitalization of bitcoin is $960.62B. Currently, $18.81M bitcoins is in circulation.
Stats and Image from Coin Desk
Although President Nayib has experienced external and internal criticism around the giant stride, more praises are pouring in from the crypto community.
Justin Sun, CEO of BitTorrent, in his congratulatory tweet to president Nayib, predicts that “all the crypto business will soon move to ElSavador!”
Binance’s CEO Changpeng Zhaosaid that El Salvador’s move is “just the beginning” of Bitcoin adoption by countries.