{"id":12332,"date":"2021-09-20T15:54:03","date_gmt":"2021-09-20T15:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/el-salvador-buys-more-bitcoin-country-now-holds-700-btc\/"},"modified":"2021-09-20T15:54:03","modified_gmt":"2021-09-20T15:54:03","slug":"el-salvador-buys-more-bitcoin-country-now-holds-700-btc","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/el-salvador-buys-more-bitcoin-country-now-holds-700-btc\/","title":{"rendered":"El Salvador Buys More Bitcoin \u2014 Country Now Holds 700 BTC"},"content":{"rendered":"<p><strong>El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has purchased more bitcoin. The Salvadoran government now holds 700 coins, according to President Nayib Bukele.<\/strong><\/p>\n<h2>El Salvador Buys the Dip<\/h2>\n<p>El Salvador\u2019s president, Nayib Bukele, announced early Monday morning that his government has purchased 150 more bitcoins. The country\u2019s bitcoin law went into effect on Sept. 7 making the cryptocurrency <a href=\"https:\/\/news.bitcoin.com\/first-day-bitcoin-legal-tender-el-salvador-buys-the-dip-countrys-btc-stash-grows\/\">legal tender<\/a> alongside the U.S. dollar. He tweeted: \u201cWe just bought the dip. 150 new coins! El Salvador now holds 700 coins.\u201d<\/p>\n<\/p>\n<p>\u201cThey can never beat you if you buy the dips \u2026 Presidential advice,\u201d he further wrote.<\/p>\n<p>The price of bitcoin was hovering around $45K when he made the announcement. It has since <a href=\"https:\/\/news.bitcoin.com\/crypto-market-values-nosedive-amid-global-market-meltdown-widening-default-risks\/\">dropped<\/a> to $43,326 at the time of writing based on data from <a href=\"https:\/\/markets.bitcoin.com\/\">Bitcoin.com Markets<\/a>.<\/p>\n<p>El Salvador <a href=\"https:\/\/news.bitcoin.com\/first-day-bitcoin-legal-tender-el-salvador-buys-the-dip-countrys-btc-stash-grows\/\">started buying<\/a> bitcoin on Sept. 6 ahead of the bitcoin law taking effect. On Sept. 7, Bukele announced that his country had bought a <a href=\"https:\/\/news.bitcoin.com\/first-day-bitcoin-legal-tender-el-salvador-buys-the-dip-countrys-btc-stash-grows\/\">total of 550<\/a> bitcoins.<\/p>\n<p>According to cryptocurrency ATM tracking website <a href=\"https:\/\/coinatmradar.com\/countries\/\">Coinatmradar.com<\/a>, El Salvador now has 205 crypto ATM locations, making it the country with the third-highest number of crypto ATMs, behind only the U.S. and Canada. However, there are reports that the Salvadoran Court of Accounts is <a href=\"https:\/\/news.bitcoin.com\/salvadoran-court-of-accounts-to-investigate-governments-bitcoin-atm-buys-chivo-kiosk-construction\/\">planning<\/a> to investigate the government\u2019s bitcoin ATM purchases and Chivo kiosk construction.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>The launch of the government\u2019s bitcoin wallet, the Chivo wallet, was off to a <a href=\"https:\/\/news.bitcoin.com\/salvadoran-governments-chivo-wallet-experiences-hiccups-some-residents-cant-claim-30-btc-reward\/\">rocky start<\/a>. However, on Sept. 16, Bukele claimed that the Chivo app is \u201calready working 100%\u201d According to reports, remittance providers like Moneygram and Western Union could <a href=\"https:\/\/news.bitcoin.com\/report-says-western-union-could-lose-400m-if-el-salvadors-chivo-bitcoin-wallet-gains-traction-tim-berners-lee-weighs-in\/\">lose up to $400 million<\/a> annually if the Chivo wallet is used more.<\/p>\n<p>On Friday, Bukele tweeted that 1.1 million Salvadorans already use the Chivo wallet, adding that \u201cwe haven\u2019t enabled 65% of phone models yet.\u201d He opined:<\/p>\n<p>It seems that we will be able to bank more people in 1 month than they did with nationalizations and privatizations of traditional banks in 40 years.<\/p>\n<p><em><strong>What do you think about El Salvador buying more bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nFeatured, Bitcoin ATM, Buy Bitcoin, buy bitcoins, buy btc, buy cryptocurrency, chivo wallet, Crypto ATM, El Salvador, el salvador bitcoin, el salvador cryptocurrency, Nayib Bukele<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has purchased more bitcoin. The Salvadoran government now holds 700 coins, according to President Nayib Bukele. El Salvador Buys the Dip El Salvador\u2019s president, Nayib Bukele, announced early Monday morning that his government has purchased 150 more bitcoins. The country\u2019s bitcoin law&hellip;<\/p>\n","protected":false},"author":0,"featured_media":12333,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12332"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12332"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12333"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}