{"id":14579,"date":"2022-11-17T23:03:13","date_gmt":"2022-11-17T23:03:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/el-salvador-to-buy-bitcoin-every-day-starting-tomorrow-president-says-featured-bitcoin-news\/"},"modified":"2022-11-17T23:03:13","modified_gmt":"2022-11-17T23:03:13","slug":"el-salvador-to-buy-bitcoin-every-day-starting-tomorrow-president-says-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/el-salvador-to-buy-bitcoin-every-day-starting-tomorrow-president-says-featured-bitcoin-news\/","title":{"rendered":"El Salvador to Buy Bitcoin Every Day Starting Tomorrow, President Says \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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El Salvador will start buying bitcoin every day, according to Salvadoran President Nayib Bukele. Since adopting the cryptocurrency as legal tender, El Salvador has bought about 2,381 bitcoins for its treasury.<\/strong><\/p>\n

El Salvador to Buy Bitcoin Every Day<\/h2>\n

The president of El Salvador, Nayib Bukele, announced on Twitter Thursday that his country will buy one bitcoin every day starting tomorrow.<\/p>\n

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Following Bukele\u2019s announcement, Tron founder Justin Sun said he will do the same, tweeting: \u201cWe echo @nayibbukele\u2019s initiative in buying bitcoin daily. We will also buy one bitcoin every day starting tomorrow.\u201d<\/p>\n

Bukele is not deterred by the recent turmoil surrounding the bankrupt crypto exchange FTX. On Sunday, the Salvadoran president explained in a tweet:<\/p>\n

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FTX is the opposite of Bitcoin. Bitcoin\u2019s protocol was created precisely to prevent Ponzi schemes, bank runs, Enron\u2019s, Worldcom\u2019s, Bernie Madoff\u2019s, Sam Bankman-Fried\u2019s \u2026 bailouts and wealth reassignments. Some understand it, some not yet. We\u2019re still early.<\/p>\n<\/blockquote>\n

El Salvador adopted bitcoin as legal tender alongside the U.S. dollar in September last year. Since then the country has purchased about 2,381 bitcoins<\/a> for its treasury. President Bukele is a strong proponent of the cryptocurrency. He recently attributed<\/a> tourism recovery in El Salvador to BTC<\/a>, surfing, and crime reduction.<\/p>\n

However, a poll<\/a> conducted in October indicated that almost two-thirds of the population has a negative impression of bitcoin, with only a quarter of Salvadorans having used the cryptocurrency.<\/p>\n

The International Monetary Fund (IMF) has also warned<\/a> El Salvador about making bitcoin legal tender, claiming that the costs of making BTC<\/a> a national currency exceed its potential benefits. However, El Salvador\u2019s government dismissed the IMF\u2019s warning and continues to embrace bitcoin.<\/p>\n

What do you think about El Salvador buying one bitcoin every day? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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