Amid the fluctuating landscape of cryptocurrencies, El Salvador stands as a beacon of strategic innovation under President Nayib Bukele's leadership.
Since November 2022, the nation has embarked on an ambitious journey, purchasing one Bitcoin daily.
This initiative not only underscores El Salvador's commitment to integrating Bitcoin into its economic fabric but also positions the country on the path to unprecedented wealth.
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President Nayib Bukele Announces Continuation of Daily Bitcoin Purchases
On March 16, 2024, President Nayib Bukele of El Salvador reported that the government's initiative, which started in November 2022, to purchase one Bitcoin daily is still ongoing.
This initiative was first announced by President Bukele on November 17, 2022, with the statement, "Starting tomorrow, we will buy one Bitcoin every day."
However, the duration for which Bitcoin purchases were made remained unclear until now.
President Bukele has now revealed, "We have deposited today's Bitcoin," indicating that this strategy of purchasing one Bitcoin per day is still active.
He further explained, "This effort will continue until Bitcoin can no longer be bought with fiat currency."
Update on the "Nayib Tracker" Data
On March 15, President Bukele disclosed that he had moved the Bitcoins held by the government into a cold wallet, sharing the wallet address.
This address contained nearly twice the amount of Bitcoin reported by the "Nayib Tracker," drawing significant attention.
This discrepancy was apparently due to the daily purchased Bitcoins not being included in the previous counts. The "Nayib Tracker" has now been updated to reflect the daily purchases, showcasing the most current data.
El Salvador's Bitcoin Strategy Leads to Substantial Unrealized Gains
The surge in Bitcoin prices has resulted in El Salvador achieving nearly $100 million in unrealized gains.
Billionaire Tim Draper has commented, "Bitcoin will transform El Salvador into one of the wealthiest countries," highlighting the significant impact of this cryptocurrency strategy on the nation's economy.
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El Salvador's Unprecedented Bitcoin Move: Shifting to Cold Wallets Reveals Surprising BTC Holdings
Discover El Salvador's groundbreaking move to cold wallets, safeguarding its Bitcoin (BTC) holdings. President Bukele reveals an unexpected amount of BTC, doubling previous estimates.
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