El Salvador embraced Bitcoin months ago and now it was buying the dip to mark a special day. As per President Nayib Bukele, the country added 21 BTC to its vault to market the significance of the last 21st day of the 21st century. The 21 BTC was valued at $1,036,000 at the time of press.
Bukele first hinted about his intention when he tweeted
“El Salvador’s entire size is 21,000 km2
Coincidence? I don’t think so!”
Following which he announced that “today is the last 21st day of the year 21 of the 21st century” and at 21:00 hours he will be buying 21 BTC. Soon after, Bukele provided proof of purchase which was totaling at a little over $1 million.
El Salvador is the first country in the world to adopt Bitcoin as a legal tender and it could be a significant practice for the country to show its loyalties to the digital asset. The country just last month celebrated black Friday by buying 100 BTC when the price was close to $54,000.
Meanwhile, in October when the FTX crypto exchange raised $420 million from its investors, El Salvador added another 420 BTC to the coffer.
Before the recent purchase, the country held 1,120 Bitcoin in its treasury. This sum has now hit close to 1,141 BTC. El Salvador was reportedly planning to buy another $500 million worth BTC funded by the issuance of $1 billion worth of tokenized bonds.
While many have called El Salvador’s Bitcoin strategy “absurd” but Bukele seemed adamant about making the country a ‘Bitcoin city.’