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International Business Times
International Business Times
Business
Marvie Basilan

El Salvador Will Buy One Bitcoin Daily Until It's 'Unaffordable' With Fiat Currencies: Bukele

Bitcoin Nayib Bukele El Salvador FIAT Crypto Cryptocurrency
El Salvador's President Nayib Bukele said that his country has stored $406.6 million in bitcoin in an offline 'cold wallet.' (Credit: AFP)

KEY POINTS

  • Bukele's announcement gained much praise among Bitcoiners on X, but there were also some doubters
  • He said last week that El Salvador stored more than 5,600 Bitcoin to a "cold wallet"
  • El Salvador is the first country to have made Bitcoin a legal tender

El Salvador, a country whose Bitcoin strategy has been at center of attention amid the cryptocurrency's rally in recent weeks, isn't done building its BTC treasury as its leader pledged to double down on the nation's purchases.

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