El Salvador’s President Nayib Bukele bought 21 BTC worth about $ 1 million

El Salvador‘s President Nayib Bukele has made a new Bitcoin purchase and announced it on Twitter. Salvador added another 21 BTC to their pocket, which was worth around $ 1 million at the time of writing.

The source: Nayib Bukele / Twitter

Nayib Bukele continues to buy Bitcoin in El Salvador

El Salvador bought 21 BTC to celebrate a special occasion of the 21st century, the purchase was made on December 21st, with 21 BTC being bought at 9 p.m. The sale took place on the occasion of the 21st of the 21st year of the 21st century and is purely symbolic. Purchases are only symbolic and limited to much larger purchases made during the course of 2021.

El Salvador has made a lot of BTC purchases in the past, the volume is difficult to compare. In October 2021, the country bought 420 BTC during the bear market and hundreds of BTC before that. 21 BTC at current market prices is over $ 1 million.

This new BTC purchase doesn’t add any appreciable amount to the country’s coffers, but it does show some level of confidence among some officials. President Bukele is the most prominent of them, and his words and actions have won both praise and criticism.

The country has taken several steps in the past few months to encourage the adoption of BTC. Bukele has pissed off many local and foreign music groups, but that hasn’t stopped him from continuing with his adoption plans.

The country has taken some steps to improve its infrastructure, but its people are not happy with the move. However, Bukele expressed confidence, saying that BTC usage exceeded expectations.

The country is accelerating the expansion of the infrastructure. There are more than 200 bitcoin ATMs in operation in the country and the Chivo wallet has exceeded two million users.

But people should beware of these developments. Before it was officially adopted, however, many people took to the streets, although it had no effect. Since then, Bukele and his team have only doubled their bitcoin scaling efforts.

Among the new changes the country’s president is driving is a bitcoin city powered by geothermal energy. Some have called the plan absurd, but there has been no criticism of Bukele and the government.

BTC / USD 4-hour chart | Source: TradingView

The largest cryptocurrency is currently trading at just $ 50,000 per inch away. At the time of writing, it changes hands at $ 49,466. Bitcoin is still down 14% this month, although some of its losses were offset earlier this week.