El Salvador buys 100 Bitcoin and creates an opportunity for citizens to generate revenue


El Salvador is moving toward a new level of Bitcoin-based opportunities with new initiatives. El Salvador also took the advantage of Bitcoin as a clever fox trader. 

On 7 September, El Salvador adopted Bitcoin as a legal tender officially, and also since the same date the population of El Salvador started to use Bitcoin for payment purposes. However El Salvador allotted huge amounts of funds in advance to buy Bitcoins but they are not buying at once, they are using systematic basic concepts of clever trading. 

In the past, after every crash, the El Salvador government bought Bitcoins. Right now the country is holding more than 1,000 Bitcoins. 

On 27 November, Nayib Bukele- President of El Salvador, announced that the Country added 100 coins. 

In the very starting, when president Nayib announced his plan and adopted Bitcoin legally, many experts and high-profile influential people criticized him and claimed that nayib is trying to replace the US dollar and they are not aware of the risks that are possible with Bitcoin adoption as a legal tender. But still, under huge criticism, Nayib Bukele introduced the Bitcoin law of El Salvador successfully on 7 September. 

Nayib replying to Bitcoin haters 

When the first time El Salvador bought Bitcoin then the Bitcoin price crashed and then El Salvador bought more Bitcoin. 

In that situation, the total holding value of Bitcoin of El Salvador was less than the buy price. 

Many big players started to criticize Nayib Bukele for adopting Bitcoin and claimed that Nayib Bukele is inviting problems for the country instead of generating opportunities and ideal situations against the unemployment issues. 

However, at that time, Nayib replied nothing but now they are showing the success of Bitcoin adoption through the development works with Bitcoin. 

In the very starting, Nayib Bukele announced a Hospital for pet dogs and further he announced a hospital for people that generated hundreds of jobs for the citizens of El Salvador. 

Besides the new development works, El Salvador announced a BitcoinCity plan to allow people to invest in Bitcoin-backed safe bonds with more than 6% EARNING. 

Overall all these ideas are replying to all critics which were against Nayib Bukele.

Read also: Ripple Partners With Republic Of Palau To Develop Its National Digital Currency

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