El Salvador Closes 2021 With Almost 1,400 Bitcoins Under Its Belt -Breaking
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El Salvador Closes 2021 With Almost 1,400 Bitcoins Under Its Belt- Nayib Bukele, Salvadoran president, announced that 21 bitcoins were purchased to increase the cryptocurrency assets of the Central American country.
- Salvador’s cryptocurrency suppliers received BitGo, Bitso and other crypto-exchanges. However, this information was not verified by the government.
El Salvador plans to increase its bitcoin holdings by purchasing 21 more bitcoins. It could mark the end of Central American countries’ BTC purchases in 2021.
The announcement was made as usual by President Nayib Bukele via his Twitter account (NYSE:). Bukele directly shares all information about state purchase of crypto currency through this social network.
These operations are not covered by the official government data. The government of El Salvador has not authorized any website to provide this information. It has not been done by the Central Bank.
Bukele purchased 21 BTC and wrote December 23, 2018.
“What international organizations have called” The #Bitcoin Experiment “is nothing more than the world watching how mass adoption changes a country’s economy.”
He added,
“If it’s for the better, it’s game over for FIAT. El Salvador is the spark that ignites the true revolution”.
Since the transaction was completed on Tuesday December 21 at 9 p.m., 2021, the Central American leader highlighted its cabalistic nature.
“And we are buying 21 #bitcoin for the occasion” he wrote in a tweet and then indicated:
“I’m holding the purchase until 21:21:21.”
He even suggested the esoteric nature of the purchase of the 21 BTC and I doubt that it was a simple coincidence, since “El Salvador’s entire size is 21,000 km2,” as he said in another tweet. “Coincidence? I don’t think so!”.
As the price of 21 BTC was $ 49218.57/BTC, the total cost of purchasing the currency involved $ 1,033,587.87. In September 2018, Bukele announced successive purchase announcements of the cryptocurrency.
To The Flipside
- It is difficult to find any information about these transactions by the Salvadoran government. The only thing we know is that the Bitcoins purchased by El Salvador were kept safe on BITGo (a California-based platform).
- Forbes published September’s information that all points to the fact that the exchange is the sole provider of liquidity to the official Chivo account. The Bitso firm would also be responsible for technical support in the Chivo wallet operations, though this is not confirmed.
Why you should care
With the continued accumulation of bitcoins reserves, the Salvadoran government has been able to move forward. Each time that the cryptocurrency’s price falls, purchases were made.
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- Nayib Bukele, Salvadoran president, announced that 21 bitcoins were purchased to increase the cryptocurrency assets of the Central American country.
- Salvador’s cryptocurrency suppliers received BitGo, Bitso and other crypto-exchanges. However, this information was not verified by the government.
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