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El Salvador Closes 2021 With Almost 1,400 Bitcoins Under Its Belt

  • Salvadoran President Nayib Bukele announced the purchase of 21 new bitcoins that add to the crypto assets held by the Central American nation.
  • The cryptocurrency providers to Salvador received crypto exchanges BitGo and Bitso, although this information has not been confirmed by the government.

After the purchase of 21 new bitcoins, El Salvador would be increasing its holdings of the cryptocurrency to 1,391 tokens. This could be the last BTC acquisition of the Central American country during 2021.

As usual, the announcement was made by President Nayib Bukele through his Twitter account. All the information related to the purchase of the cryptocurrency by the state is made by Bukele personally through that social network.

So far, there is no official data available on these operations that the government does. No official website is authorized by the government of El Salvador to transmit this type of information. Not even the Central Bank has done it.

After the purchase of 21 BTC, Bukele wrote on December 23:

“What international organizations have called” The #Bitcoin Experiment “is nothing more than the world watching how mass adoption changes a country’s economy.”

And he added:

“If it’s for the better, it’s game over for FIAT. El Salvador is the spark that ignites the true revolution”.

The Central American leader highlighted the cabalistic nature of the purchase, since it was made on Tuesday, December 21, at 9:00 p.m. in 2021:

“And we are buying 21 #bitcoin for the occasion” he wrote in a tweet and then indicated:

“I’m holding the purchase until 21:21:21.”

He even suggested the esoteric nature of the purchase of the 21 BTC and I doubt that it was a simple coincidence, since “El Salvador’s entire size is 21,000 km2,” as he said in another tweet. “Coincidence? I don’t think so!”.

The purchase of the 21 BTC involved a total investment of $ 1,033,587.87, as the cryptocurrency was purchased at a rate of $ 49,218.57 per BTC. Since September of this year, Bukele has been announcing successive purchases of the cryptocurrency.

On The Flipside

  • However, the official information related to these purchases made by the Salvadoran state is scarce. It is only known that in BITGo, a platform based in California, the bitcoins bought by El Salvador would be guarded.
  • Everything indicates that the exchange is the exclusive provider of liquidity for the official Chivo wallet, according to information published by Forbes magazine in September. Likewise, the Bitso company would be the main provider of technical support to the operations of the Chivo wallet, although this information has not been confirmed either.

Why You Should Care

The Salvadoran government continues to advance by accumulating reserves of bitcoins. Purchases have been made taking advantage of each time the price of the cryptocurrency falls.

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    • Salvadoran President Nayib Bukele announced the purchase of 21 new bitcoins that add to the crypto assets held by the Central American nation.
    • The cryptocurrency providers to Salvador received crypto exchanges BitGo and Bitso, although this information has not been confirmed by the government.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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