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Cryptocurrency

11 May 2022

El Salvador Acquires More than 2300 BTC after Announcing Bitcoin City Project

The Index Today

El Salvador, a prominent name in the realm of digital currency, has once again underscored its crypto-positive stance by purchasing 500 Bitcoin at an average cost of $30,744, bringing its total to more than 2,300 BTC worth an estimated $71.7 million, reported Bloomberg News.

According to CoinQuora, El Salvador’s President Nayib Bukele also revealed the country’s plans for its Bitcoin City, coloured in blue and green for seas and trees respectively. “#Bitcoin City is coming along beautifully,” Bukele wrote in a tweet alongside a photo of the proposed city’s diorama.

El Salvador has emerged as a pioneer in incorporating Bitcoin technology into its system, which has since prompted other countries to follow suit in the face of the digital currency’s growing popularity, reported CoinQuora.

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