• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home EUROPE

El Salvador Carries Out Cheapest 410 Bitcoin Purchase As Prices Plummet Below $36k

CB4U by CB4U
January 22, 2022
in EUROPE
0
El Salvador Carries Out Cheapest 410 Bitcoin Purchase As Prices Plummet Below $36k
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

El Salvador, a Central American country, has added 410 Bitcoin (BTC) to its central bank as BTC values fall below $37,000, the lowest point since July 26th, 2021. President Nayib Bukele announced the acquisition of 410 bitcoins for $15 million, setting the exchange rate per bitcoin at roughly $36,585. Bukele believes “some individuals are selling comparatively cheap” now that Bitcoin is trading just around $36,000, strengthening his long-term objective of mainstream Bitcoin adoption.

On September 7, 2021, El Salvador adopted BTC as legal money as a means of combating catastrophic inflation and the country’s deteriorating buying power. Over the previous four months, the country has actively accumulated 1,801 BTC, especially when the market underwent a shortfall in prices.

Since the time the government recognized Bitcoin as legal tender, their most recent purchase is the cheapest it’s ever been.

Following Bukele’s revelation, bitcoin’s value continued to fall, reaching a low of $35,422 before partially rebounding to $36,653.56 on Friday evening, down 46.72 percent from its November high of $68,789.63.

According to a new study from Crypto.com, the global crypto industry will have one billion users by the end of 2022, as more emerging economies follow El Salvador’s lead and accept BTC.

El Salvador and Bitcoin

El Salvador was the first country to recognize bitcoin as legal tender, creating bitcoin ATMs and encouraging businesses to accept it. Bukele later vowed to build a tax-free Bitcoin City on the Salvadoran coast, to accelerate citizenship for certain blockchain investors, and to build geothermal bitcoin mining facilities, potentially turning the Central American country into a global crypto mining hotspot.

Bukele, who goes by the nickname “CEO of El Salvador” on Twitter, said “It’s game over for FIAT” if the economy of the country improves by the adoption of bitcoin as a currency.

Several financial specialists have voiced concerns about El Salvador’s acceptance of Bitcoin. They emphasize that cryptocurrencies, such as Bitcoin, are extremely volatile, speculative assets with no physical backing, causing price volatility.

Despite the soaring uncertainties revolving around Bitcoin and other cryptocurrencies, one cannot be blind to the rising adoption and popularity of them among developing countries and curious individuals.

Advertisement Banner
Previous Post

How Kingdom Quest is Introducing the Gaming Metaverse

Next Post

El Salvador purchases additional 410 Bitcoin for $15 million

CB4U

CB4U

Next Post
El Salvador purchases additional 410 Bitcoin for $15 million

El Salvador purchases additional 410 Bitcoin for $15 million

Discussion about this post

RECOMMENDED

Despite Crypto Winter Fundraising In 2022 Overshadows Previous Year’s Record

Despite Crypto Winter Fundraising In 2022 Overshadows Previous Year’s Record

6 months ago
Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches – Africa Bitcoin News

Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches – Africa Bitcoin News

2 weeks ago

DON'T MISS

US Government Secretly Cracking Down On Crypto?

US Government Secretly Cracking Down On Crypto?

February 9, 2023
Bitcoin Network NFTs Booming, Know More

Bitcoin Network NFTs Booming, Know More

February 9, 2023
3 HOT Crypto Gaming Platforms | Bitcoin Update

3 HOT Crypto Gaming Platforms | Bitcoin Update

February 9, 2023
11 Years Dormant Bitcoin Wallet Reawakens With $9.5M Gain: A Forgotten Fortune

11 Years Dormant Bitcoin Wallet Reawakens With $9.5M Gain: A Forgotten Fortune

February 9, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

US Government Secretly Cracking Down On Crypto?

US Government Secretly Cracking Down On Crypto?

February 9, 2023
Bitcoin Network NFTs Booming, Know More

Bitcoin Network NFTs Booming, Know More

February 9, 2023
3 HOT Crypto Gaming Platforms | Bitcoin Update

3 HOT Crypto Gaming Platforms | Bitcoin Update

February 9, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
en English
en Englishja Japaneseko Koreantl Filipinovi Vietnamesehi Hindibn Bengalita Tamilzu Zulusw Swahilide Germanfr Frenches Spanishpt Portugueseru Russian