El Salvador will start buying bitcoin every day, according to Salvadoran President Nayib Bukele. Since adopting cryptocurrency as a legal tender, El Salvador has accepted about 2,381 bitcoins for its treasury.
El Salvador adopted bitcoin as legal tender alongside the U.S. dollar in September last year. Since then the country has purchased about 2,381 bitcoins for its treasury. President Bukele is a strong proponent of cryptocurrency. He recently attributed tourism recovery in El Salvador to BTC, surfing, and crime reduction.
However, a poll conducted in October indicated that almost two-thirds of the population has a negative impression of bitcoin, with only a quarter of Salvadorans having used the cryptocurrency.
The International Monetary Fund (IMF) has also warned El Salvador about making bitcoin legal tender, claiming that the costs of making BTC a national currency exceed its potential benefits. However, El Salvador’s government dismissed the IMF’s warning and continues to embrace bitcoin.