El Salvador’s President Nayib Bukele can’t get enough of Bitcoin purchases! Announcing that he has purchased 21 more Bitcoins on his Twitter account, Bukele’s latest purchase has increased the number of BTC owned by the country’s treasury to 1141.
And we are buying 21 #bitcoins for the occasion 🥳 https://t.co/xKo80nhYOn
— Nayib Bukele 🇸🇻 (@nayibbukele) December 22, 2021
El Salvador has been reaping huge benefits from BTC adoption lately. Bukele, who especially watches low levels, has become known with the nickname “Dipçi Nayib” on Turkish social media platforms.
It is obvious that the President, who has a large following in the crypto community and especially won the love of Bitcoin fans, will continue to increase his BTC reserves to achieve his vision of digitizing the country’s economy and fighting inflation.
Ever since El Salvador made Bitcoin legal tender, international organizations have been keeping a close eye on the country’s progress.
Many experts, including Vitalik Buterin, are critical of the country’s decision. Even the IMF and World Bank issued multiple warnings to the government against accepting BTC as legal tender.
However, President Bukele, who did not step back from his decision despite all the negative reactions, considers this as a positive step towards the economic development of the country. Bukele has always been a prominent advocate of cryptocurrency, especially BTC.
The leading crypto in the market has allowed the country to develop several hospitals and schools, while the country’s remittance structure has taken on a completely different structure as Bitcoin ATMs are now primarily used to send and receive money from foreign countries.
The Bukele government launched billion-dollar BTC bonds after the IMF was refused a monetary loan. Bukele’s next plan is to build a sustainable Bitcoin city!