- El Salvador Bets on Bitcoin: Daily Buying to Build a Sustainable Digital Economy: El Salvador took an unconventional step when it became the first country in the world to adopt Bitcoin as legal tender in September 2021. Recently, President Nayib Bukele announced that El Salvador would start buying one Bitcoin per day. - This decision reflects El Salvador’s commitment to promoting the use of Bitcoin as part of its economic strategy and promoting blockchain technology. The idea behind this daily buying is to take advantage of price fluctuations and try to get good value over time. - The reasons for this decision may be multiple: - 1. Diversifying foreign exchange reserves: Bitcoin can be a form of diversification, especially in the case of countries that rely heavily on the US dollar. - 2. Encouraging investment in digital technology: El Salvador aims to become a hub for blockchain technology and digital currencies, which will boost the digital economy. - 3. Long-term strategy: Daily buying of Bitcoin may be part of a long-term strategy to capitalize on the future potential of the digital currency. However, this move is not without risks, especially given the high volatility of Bitcoin's price and the uncertainty about its global acceptance as a currency.
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