El Salvador announces a daily fixed deposit of 1 Bitcoin in the cold wallet address! President: Until we can't afford it

This site (120bTC.coM): President Bugle of El Salvador announced yesterday (15th) that the country had transferred 5,689 Bitcoins to a cold wallet in a domestic vault and made it public. wallet address to demonstrate commitment to Bitcoin and transparency. This has been appreciated and supported by the crypto community. The country's cold wallet has received multiple donations, including rare satoshis, inscriptions, small Bitcoins...

Daily fixed investment in BTC will continue until legal currency cannot be purchased

Today, Bugele further announced on Until Bitcoin becomes unaffordable.

El Salvador’s plan to invest 1 Bitcoin every day was announced by Bugele on November 17, 2022. Since then, El Salvador has begun to purchase Bitcoins all the way.

Bitcoin holdings have a floating profit of more than 62%

Currently, El Salvador holds a total of 5,690 Bitcoins, with a total value of up to 394 million U.S. dollars. Data from Bitcoin browser Mempool shows that El Salvador last night Bought one Bitcoin for $69,176.

In addition, according to Nayib Tracker data, the average cost of purchasing Bitcoin in the country is US$42,640.97, with unrealized profits exceeding US$76.1 million, and a return rate as high as 62.3%.

##El Salvador Cold Wallet

El Salvador’s policy of embracing Bitcoin

In addition to the Bitcoin fixed investment plan, Buglei also vigorously promotes a number of Bitcoin policies, including the launch of the investment citizenship program in December last year, where you can obtain a residence visa and citizenship by investing US$1 million in Bitcoin or USDT; and the issuance of US$1 billion Bitcoin Volcano Bonds, which were also obtained in December last year. Digital Asset Council (CNAD) regulatory approval, expected to be released in the first quarter of 2024.

In this regard, Tim Draper, the well-known venture capital godfather in Silicon Valley and founder of Draper Associates, recently attended the podcast program Web3 DeepDive hosted by cryptocurrency reporter Rachel Wolfson. He praised El Salvador for embracing Bitcoin, saying that Bitcoin is Helping El Salvador grow and become a better country will determine its destiny in the coming years: El Salvador may go from being the poorest and most criminal country to the richest and most innovative country in the world in 30 or 40 years One of the most powerful countries in the world, and all of this happened during the period of embracing Bitcoin.

Tim Draper predicts that if the price of Bitcoin reaches $100,000, El Salvador will be able to repay its debt to the International Monetary Fund (IMF) and will no longer need to deal with the IMF.

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