El Salvador Purchases 21 Bitcoins to Commemorate December 21, 2021
El Salvador’s government is continuing to commemorate big occasions by purchasing additional Bitcoin (BTC), with President Nayib Bukele revealing a fresh buying of 21 Bitcoins on Tuesday. El Salvador’s recent Bitcoin purchase, which is currently worth approximately $1,036,000 at the time of posting, is intended to celebrate the “last 21st day of the year 21 of the twenty-first century” as well as the dearth of Bitcoin, as its supply is restricted to 21 million BTC, according to Bukele.
The president noted that El Salvador’s total land area is estimated to be roughly 21,041 square kilometres, which, as per Bukele, is no happenstance given that El Salvador was the very first country in history to accept Bitcoin as legal cash. As per statistics from CoinGecko, bitcoin was trading just over $49,000 at the moment of purchase.
After the state purchased its first 200 Bitcoins in early September, in conjunction with the country’s adoption of Bitcoin as legal money on Sept. 7, purchasing Bitcoin is gradually becoming a means of commemorating various milestones.
And today is the last 21st day of the year 21 of the 21st century 👽 https://t.co/9BitXCyDVs
— Nayib Bukele 🇸🇻 (@nayibbukele) December 22, 2021
FTX just raised $420,690,000 in a Series B fundraise.
The internet is undefeated.
— Pomp 🌪 (@APompliano) October 21, 2021
El Salvador cherished Black Friday on November 26 by purchasing 100 bitcoins at a price of approximately $54,000 per bitcoin, taking its holdings to 1,220 bitcoins. An earlier large-scale Bitcoin purchase by the Salvadoran government occurred in October, just after Sam Bankman-FTX Fried’s crypto exchange received $420 million in funding, this time from 69 individuals. As several industry insiders speculated, both men used the slang term “420” to allude to marijuana in the cannabis community, according to reports.