Summary
TLDR: El Salvador’s Bitcoin holdings exceed $60 million amid price surge, with 2,848 Bitcoin in possession. President Nayib Bukele supports Bitcoin and won national election. El Salvador invites Bitcoin donations and sees increase in foreign residents relocating to the country. National Bitcoin Office announces regulatory approval for Volcano Bond.
Key Points
1. El Salvador’s total holdings in Bitcoin have exceeded $60 million USD amid the cryptocurrency price surge.
2. In 2021, El Salvador initiated its Bitcoin purchases and became the first country to recognize Bitcoin as legal tender. Reports indicate that one year into its Bitcoin experiment, El Salvador suffered a loss of $60 million.
3. Nayib Bukele, who declared himself the winner of El Salvador’s national election, actively champions Bitcoin and has garnered significant popularity both domestically and within the global crypto industry.