$BTC $BNB $SOL
El Salvador President Bukele says El Salvador will continue to buy 1 Bitcoin a day
Original: CC. Niya 2024.03.17
El Salvador has been buying 1 Bitcoin a day since 2022, President Nayib Bukele said, confirming that the country’s “1 Bitcoin a day plan” will continue until this crypto Currency “cannot be paid with fiat currency.” Bitcoins obtained from daily purchases in El Salvador were also deposited into the same wallet address that Bukele previously revealed was used for "large chunks" of Bitcoin.
El Salvador’s One Bitcoin a Day Initiative Continues
El Salvador’s President Nayib Bukele took to social media platform X on Friday to share an update on El Salvador’s “1 Bitcoin a Day Initiative.”
The “1 Bitcoin a Day Initiative” was launched in November 2022, when Bukele announced that starting on November 18, 2022, El Salvador would purchase 1 Bitcoin per day. On Friday, he provided an update on the plan, saying El Salvador would continue to purchase Bitcoin every day “until Bitcoin becomes unpayable with fiat currency.” He also revealed that the scheme’s latest Bitcoins were deposited to an address in El Salvador, which recently received a “significant portion” of the country’s Bitcoin reserves.
On Thursday, El Salvador’s president revealed that El Salvador has decided to move a large number of its Bitcoin holdings to cold wallets and store them in physical vaults within the country.
