RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

El Salvador Buys the Dip

Rate Captain by Rate Captain
December 23, 2021
in Cryptocurrency, Economics, News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

MetaMask Has a Plan to Help Victims of Crypto Scams

CBN’s N143 billion treasury bills auction records 47% oversubscription

Russia reduces interest rate to 11% amid surge of the ruble

El Salvador, the first county to legalize Bitcoin as an optional legal tender, has bought an additional 21 Bitcoin on 21.21.21.

El Salvador, the first county to legalize the leading cryptocurrency bitcoin as legal tender, has bought an additional 21 Bitcoins. President Nayib Bukele, who has played a key role in bringing BTC to the masses in the country, announced they have bought an additional 21 BTC to mark the last 21st day of the year 21 of the 21st century.

El Salvador continues to buy bitcoin. 

President Nayib Bukele started a Twitter quote thread of sorts where he first talked about how El Salvador’s entire area is about 21,000 square kilometers referring to the 21 million supply of BTC. He later said that they would make the BTC purchase exactly at 21:21:21. President Bukele went on to confirm their purchase in a later tweet. The Central American country has been buying the Bitcoin dip ever since they made it an optional legal tender in September. The latest purchase is comparatively lower, but it was to honor an occasion rather than buying the actual dip.

The decision to make Bitcoin a legal tender earlier this year in El Salvador was met with a huge uproar from IMF, the world bank, and other international organizations. IMF has issued several warnings against the use of BTC as a legal tender. However, the small Central American nation is already reaping the benefits of adopting the leading cryptocurrency. The country has seen the biggest change in the remittance market, where Bitcoin ATMs have become the primary tool for sending and receiving money overseas. Profits from Bitcoin have also helped the country build new hospitals and schools. However, there was some resistance from opposition parties in the country for making bitcoin a legal tender.

Previous Post

Gold Futures Increases Marginally to $1,784.15

Next Post

Investment Analysts Predicts Bond Issuance Surge in 2022

Related News

MetaMask Has a Plan to Help Victims of Crypto Scams

MetaMask Has a Plan to Help Victims of Crypto Scams

by Rate Captain
May 26, 2022
0

MetaMask, the browser-based wallet for navigating the world of Web 3, can now help victims of crypto scams and phishing...

CBN governor respond to APC 100M president form

CBN’s N143 billion treasury bills auction records 47% oversubscription

by Rate Captain
May 26, 2022
0

The Central Bank of Nigeria’s (CBN) Treasury Bills for a 1-year tenor worth N143.88 billion, which was auctioned on Wednesday,...

Russia reduces interest rate to 11% amid surge of the ruble

Russia reduces interest rate to 11% amid surge of the ruble

by Rate Captain
May 26, 2022
0

Russia’s central bank slashed interest rates to 11% for the third time in less than a month, boosted by lower...

Tether, USDT market cap has dropped by US$10B since UST collapse

Terra community passes proposal to revive LUNA cryptocurrency following stablecoin-led implosion

by Rate Captain
May 26, 2022
0

Nine days ago, Terraform Labs founder Do Kwon shared a plan to revive the Terra Ecosystem after its stablecoin UST...

Next Post

Investment Analysts Predicts Bond Issuance Surge in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Google hit by second UK antitrust probe into online ad

Google hit by second UK antitrust probe into online ad

May 27, 2022
Ethereum breaks below $1,800 as selling pressure accelerates

Ethereum breaks below $1,800 as selling pressure accelerates

May 27, 2022

Popular Story

    Rate Captain

    RateCaptain

    We bring you the most accurate in new and market data. Check our landing page for details.

    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

    No Result
    View All Result
    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.