News

El Salvador Buys 200 Bitcoins – President

Published

3 years ago

September 7, 2021

With effect from today, El Salvador is the first nation in the world to officially recognise bitcoin as legal tender. President Nayib Bukele took to Twitter to declare another first – that El Salvador would become the first nation to announce the acquisition of bitcoins for its balance sheet..

El Salvador in Good Company
With the announcement, El Salvador joins an illustrious and growing group of individuals, funds and companies who have bought bitcoin for their balance sheet.

Bitcoiners Back El Salvador #BitcoinDay
When Bitcoiners opined as to which nations would adopt bitcoin first, most suggested it would end up being ‘rogue nations’ crippled by sanctions – the likes of North Korea or Iran, who gained little from the current petrodollar system.

Instead, it proved to be a democratically elected government of a republic with a population just over 6.5 million people, a mere 13 years after its creation. It’s difficult to overestimate the significance of this.

As a sign of support for El Salvador, Bitcoiners around the world have decided to purchase US$30 worth of bitcoin to match the amount the government is offering citizens for downloading its digital wallet.