Hi Guys đ¨đ¨
El Salvador Keeps Buying BTC, Top BTC Mining Rigs, Blackrock's New 'BUIDL' Fund, and More â Week in Review
El Salvador continues its daily bitcoin purchases, aiming to keep buying until the cryptocurrency becomes too expensive. The top 10 bitcoin mining rigs of 2024 show significant profit margins due to recent value increases.
Blackrock, has submitted a form to the SEC for the initiation of a tokenized investment fund called âBUIDL.â âRich Dad Poor Dadâ author Robert Kiyosaki advocates buying as much bitcoin as one can afford, favoring it over stocks and bonds during economic uncertainties.
El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC âBecomes Unaffordableâ With Fiat Currencies, Says President Bukele.
El Salvadorâs President Nayib Bukele shared an update on El Salvadorâs â1 bitcoin a day programâ on social media platform X on Friday.
The â1 bitcoin a day programâ was initiated in November 2022 when Bukele announced El Salvadorâs daily purchase of one bitcoin, starting on Nov. 18, 2022. On Friday, he provided an update on the program, stating that El Salvador will continue to buy bitcoin daily âuntil bitcoin becomes unaffordable with fiat currencies.â He also revealed that the latest BTC from the program has been deposited into El Salvadorâs address that recently received âa large chunkâ of the countryâs bitcoin stash.
On Thursday, the Salvadoran president disclosed that El Salvador has decided to transfer a large chunk of its bitcoin holdings to a cold wallet and store it in a physical vault within the countryâs territory.
In September 2021, El Salvador made history by becoming the first country to adopt bitcoin as legal tender alongside the U.S. dollar, despite warnings from the International Monetary Fund (IMF). Since then, the country has been acquiring bitcoin through various means, including purchases and mining, and the nation has also been generating revenue from bitcoin-related initiatives. Venture capitalist Tim Draper believes that bitcoin will transform El Salvador into one of the wealthiest nations in the world. Last month, Bukele reaffirmed that El Salvador has no intention of selling any of its bitcoins, emphasizing that âat the end, 1 BTC = 1 BTC.â
#HotTrends #BTC #Write2Erarn #CryptoNewsđđĽ #ElSalvadorBitcoin
What do you think about El Salvador buying one bitcoin a day and will continue until the crypto is unaffordable with fiat currencies? Let us know in the comments section below.