On Tuesday, September 7, El Salvador enacted a law recognizing Bitcoin as a legal tender. President Nayib Bukele posted the corresponding tweet three minutes before local midnight.
3 minutes to make history.
In 3 minutes, we make history.#BitcoinDay #BTC๐ธ๐ป
โ Nayib Bukele ๐ธ๐ป (@nayibbukele) September 7, 2021
โIn three minutes, we will make history,โ Bukele wrote.
Earlier, the head of state confirmed that the Salvadoran government had purchased the first 200 BTC. The purchase is part of the new fund for $150 million, approved by authorities to support the exchange between Bitcoin and dollars.
El Salvador has just bought itโs first 200 coins.
Our brokers will be buying a lot more as the deadline approaches.#BitcoinDay #BTC๐ธ๐ป
โ Nayib Bukele ๐ธ๐ป (@nayibbukele) September 6, 2021
โOur brokers will be buying much larger volumes as the deadline approaches,โ Bukele said.
Later he reported an additional purchase of 200 BTC. At the time of writing, the total value of the coins purchased stood at about $21 million.
El Salvador now holds 400 #bitcoin#BitcoinDay ๐ธ๐ป
โ Nayib Bukele ๐ธ๐ป (@nayibbukele) September 6, 2021
Against the backdrop of bitcoinโs price drop, Bukele said El Salvador had bought another 150 BTC. Thus the state fund holds 550 BTC.
It appears the discount is ending ๐ฅฒ
Thanks for the dip @IMFNews. We saved a million in printed paper.
El Salvador now holds 550 bitcoin.#BitcoinDay #BTC ๐ธ๐ป
โ Nayib Bukele ๐ธ๐ป (@nayibbukele) September 7, 2021
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From midnight on September 7, the Bitcoin wallet Chivo became available. In late June, the president removed transfer and conversion fees, announced the possibility of cashing out funds at Bitcoin ATMs or offline branches and announced a $30 Bitcoin giveaway to every adult resident of the country.
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