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El Salvador Keeps Buying BTC, Top BTC Mining Rigs, Blackrock's New 'BUIDL' Fund, and More — 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 “BUIDL.” “Rich Dad Poor Dad” 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 ‘Becomes Unaffordable’ With Fiat Currencies, Says President Bukele.
El Salvador’s President Nayib Bukele shared an update on El Salvador’s “1 bitcoin a day program” on social media platform X on Friday.

The “1 bitcoin a day program” was initiated in November 2022 when Bukele announced El Salvador’s 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 “until bitcoin becomes unaffordable with fiat currencies.” He also revealed that the latest BTC from the program has been deposited into El Salvador’s address that recently received “a large chunk” of the country’s 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 country’s 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.
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