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El Salvador Buys Bitcoin Every Day
El Salvadoran President Nayib Bukele announced on his Twitter Thursday that his country will buy one bitcoin every day starting tomorrow. did.
Following Bukele’s announcement, Tron founder Justin Sun tweeted that he would do the same, saying: said to Also, starting tomorrow, I will buy 1 bitcoin every day.
Bukele isn’t shy about the recent turmoil surrounding bankrupt cryptocurrency exchange FTX. On Sunday, the President of El Salvador explained in a tweet:
FTX is the opposite of Bitcoin. The Bitcoin protocol was created precisely to prevent Ponzi schemes, bank crackdowns, Enron, WorldCom, Bernie Madoff, Sam Bankman-Fried… bailouts and reallocation of wealth. Some understand, some still don’t. we are still early
El Salvador adopted Bitcoin as legal tender alongside the US dollar last September. Since then, the country has purchased around 2,381 bitcoins for its national treasury. President Bukele is a strong proponent of cryptocurrencies. He recently attributed a recovery in tourism in El Salvador to BTC, surfing and a decline in crime.
However, a poll conducted in October found that almost two-thirds of the population had a negative impression of Bitcoin, compared with only a quarter of Salvadorans. were shown to have used cryptocurrencies.
The International Monetary Fund (IMF) also warned El Salvador against making Bitcoin legal tender, saying that the costs of makingBTC the national currency outweigh the potential benefits. claims to be However, the Salvadoran government has ignored her IMF warnings and continues to accept Bitcoin.
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