The plans were announced by President Naib Bukele. The country that was the first to legalize cryptocurrency as a means of payment currently owns 2.3 thousand BTC
The President of El Salvador, Naib Bukele, announced that from November 18, the country will start buying one bitcoin every day.
"We will buy one bitcoin every day starting tomorrow," Bukele wrote on his Twitter account (the social network is blocked in Russia).
At the moment, the country holds 2.38 thousand BTC, according to Bitcoin Treasuries. At the current cryptocurrency exchange rate of $16.6 thousand, the total amount of El Salvador's funds in BTC is $39.5 million.
A few days ago, Bukele commented on the collapse of the FTX crypto exchange. He called the trading platform the opposite of bitcoin, since the cryptocurrency was created to "prevent Ponzi schemes and bankruptcies."
In October, the Central American University (UCA) published a survey according to which 77.1% of residents of El Salvador opposed the purchase of bitcoins with public money.
El Salvador declared bitcoin a means of payment and began buying cryptocurrencies on September 7, 2021. Despite the significant decline in the bitcoin exchange rate, the authorities of the South American country still adhere to their strategy. In June, El Salvador's Finance minister Alejandro Celaya said that the current market collapse would not harm the country's financial condition.