El Salvador To Buy One Bitcoin Every Day: President Bukele

Yesterday, El Salvador President Nayib Bukele announced that the country would purchase one bitcoin each day, beginning today. The conversion of dollar-cost-average (DCA), into bitcoin is a common practice in the community. However, it is a new move for a nation. At the moment, the country has a bitcoin treasury worth 2,381 BTC. It is valued at more than $39 million. Bukele has a history of buying large amounts of bitcoin during market volatility and then buying the dip. The Bukele administration has also encouraged the creation of events that bring together world leaders from all over the globe to learn more about the financial freedom bitcoin adoption offers. In September, it was announced that more than 30 countries would host 110 speakers to discuss financial inclusion. During the visit, attendees were shown how bitcoin works and were able see it in action at Bitcoin Beach. In October, the State Treasurer of North Carolina traveled to El Salvador on his own to learn more about the positive effects bitcoin has had on the El Salvadoran economy. “What we saw in El Salvador was very useful in our efforts encourage more support and understanding digital assets and emerging technologies here at South Carolina,” Dennis Fassuliotis (president of the South Carolina Emerging Technologies Association) said. He and his administration plan to increase the country’s investment in a bitcoin-focused economy. It remains unclear how long the purchasing of 1 BTC per day will continue.Tagsterms:President Bukelebuy bitcoinel salvadorDca