Its president, Nayib Bukele, assured that El Salvador will invest in the acquisition of 1 BTC every day, until the cryptocurrency that leads the market becomes unaffordable with fiat currencies.
Bukele has confirmed that one of the country's priorities is to guarantee technological growth and development through innovations such as Bitcoin and blockchain, which is why the president has publicly committed to resume Bitcoin accumulation strategy which he presented two years ago.
In November 2022, Bukele tweeted a message to inform the general public that the nation was purchasing 1 bitcoin daily.
On that occasion, Bitcoin and cryptocurrencies were going through a period of bad luck with the disappearance of several projects and companies in the industry, so the crypto community began to show its support for the president's decision, which would “remove panic and desperation.” of the market.” Furthermore, El Salvador would be taking advantage of the Bitcoin price correction at that time to increase its BTC holdings. In November of that year, the price of Bitcoin was close to $15.000.
Now, the president of El Salvador has reported that he will resume this investment strategy, buying 1 BTC every day. The president emphasized that the country will continue buying 1 BTC daily until Bitcoin becomes unavailable with fiat currencies.
Contrary to last time, El Salvador's new official Bitcoin investment plans come at a time when the market-leading cryptocurrency has established a new all-time high and remains trading above $68.000 per unit.
At the close of this edition, El Salvador Street owns around 5.692,7 BTC, valued at almost $389 million dollars. This is known thanks to Bukele revealing last week the address of the Bitcoin wallet in which he keeps most of his cryptocurrency holdings, in order to ensure greater transparency.
Experts believe that the country is making important strategic moves that recognize Bitcoin's potential to transform traditional monetary and financial systems.
Continue reading: Peter Schiff considered investing in Bitcoin in 2010, when it was worth less than $1
