September 19, 2021

El Salvador's government will donate $ 30 in bitcoins to all citizens

El Salvador's government will donate $ 30 in bitcoins to all citizens

The President of El Salvador announced that every adult resident of the country, upon registering a cryptocurrency wallet, will receive a $ 30 bitcoin as a gift.

The crypto community rejoiced at this news,because according to preliminary estimates, the authorities will need to purchase more than $ 100 million of BTC to fulfill the plan.According to the latest census, the total population of El Salvador is about 6.5 million, of which more than 4.5 million are adults who can potentially become active users leading cryptocurrency.

According to analysts, due to them, the total bitcoin user base can increase by 2.5%.

However, the citizens of the country can count ona gift in the equivalent of $ 30 only after registering with an application issued by the government. At a press conference, President Nayib Bukele said that the government's proposed e-wallet could be used anywhere there is a mobile connection, even with an inactive tariff plan.

He also said that the previously adopted law onrecognition of bitcoin as legal tender will come into force on September 7. This regulation was criticized by the World Bank, which refused to help the country in its transition to a digital economy.

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