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Bitcoin (BTC) Rise Impacted by El Salvador: Bitcoin Magazine By CoinQuora

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© Reuters. El Salvador’s Impact on Bitcoin (BTC), Bitcoin Magazine
  • According to a Magazine, Bitcoin has risen by more than 30% since El Salvador provided its citizens $30.
  • In the past 24 hours, Bitcoin (BTC), has risen by 2.42% to $62,286.
  • El Salvador citizens made $9 profit from BTC’s price.

In the last weeks, there has been a rapid change on all levels of crypto markets. Bitcoin (BTC) was the main highlight of these events. This crypto has been equated with gold and is now considered a national treasure in many countries. El Salvador’s adoption of Bitcoin (BTC) came with lots of criticisms and negative predictions. Fortunately, the country’s President Nayib Bukele seems to be handling the situation quite well, tweets Bitcoin Magazine.

Bitcoin Magazine has tweeted, in detail: Bitcoin (BTC) rose over 30% since El Salvador provided $30 for every citizen. Different opinions were expressed about the tweet. The tweet was labelled smart by President Nayib Bukele. Another comment referred to El Salvador’s decision to give Bitcoin (BTC), its Legal Tender. The country’s performance is far better than what most world leaders had expected.

Conversely, one netizen didn’t quite agree with the theory, rather, he questioned Bitcoin Magazine. He asked Bitcoin Magazine if ‘the cost of Bitcoin has something to do with what is happening in South America’. He called the news ‘moronic.’

The current Bitcoin price (BTC) suggests that the $30 El Salvador gave to each citizen would have earned a $9 interest.

Source: CoinMarketCap

The news regarding Bitcoin’s rise and price has been in the headlines for the last few weeks. Bitcoin is doing well these days, and many believe it will reach $100 in the next year. Bitcoin is trading at $62,286.43, with a market value of nearly 1 trillion dollars. This win is huge for crypto investors and other countries like El Salvador.

Continue reading on CoinQuora

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