President Bukele Buys 21 Bicoins. El Salvador now has 1,391 Coins

By Eddie Galdamez  |  Dec 22nd, 2021
El Salvador Bitcoins
President Nayib Bukele.

President Nayib Bukele announced Yesterday, Tuesday, December 21st, the purchase of 21 new Bitcoins. The Purchase of the 21 coins was made at 21 hours with 21 minutes and 21 seconds on the 21st day of December. Click here to view more details.

On September 7th, 2021, El Salvador became the first country to have Bitcoin as a legal tender. Bitcoins can now be used in transactions ranging from buying a cup of coffee to paying taxes.

How many Bitcoins does El Salvador Have? As of December 22nd, 2021, El Salvador has purchased 1,391 Bitcoins. El Salvador has invested about $71,341,360 for an average of $51,288 per Bitcoin.

El Salvador Bitcoins

Date Bitcoins Cost per Bitcoin Total Invested
Dec 21, 2021 21 $49,220 $1,033,620
Dec 3, 2021 150 $48,670 $7,300,500
Nov 26, 2021 100 $54,815 $5,481,500
Oct 27, 2021 420 $60,622 $25,461,240
Sept 19, 2021 150 $42,843 $6,426,450
Sept 7, 2021 150 $46,091 $6,913,650
Sept 6, 2021 400 $46,811 $18,724,400
Totals 1391 $71,341,360

The price per Bitcoin unit listed in the above table is estimated based on the cost per unit on the day purchased. As of today’s date, El Salvador Government has not made public the details of the transactions.

Nayib Bukle Buys 21 Bitcoins

December 21st, 2021

In a Twitter thread, president Bukele announced his decision to buy 21 more Bitcoins. The purchase was to mark a particular occasion that will not be repeated this century.

“The size of El Salvador is 21,000 square kilometers. Coincidence? I do not think so! And now, it’s the 21st of the year 21, in the 21 century.”

To add to the enchantment, Nayib Bukele confirmed the purchase at 9:21.21 pm; that is, 21:21,21 in 24-hour time format.

El Salvador Buys 150 More Bitcoin During Cryptocurrency’s Dip

Dec 5th, 2021

President Nayib Bukele announced on Friday, December 3rd, that El Salvador had purchased an additional 150 Bitcoins. Bukele’s announcement came as the cryptocurrency plunged to a two-month low below $50,000.

“El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670.”
President Bukele.

December’s purchase by the Salvadoran Government is in addition to another made at the end of November during a decline in the value of Bitcoins.

Between Praise and Criticism, El Salvador Buys 100 More Bitcoins

Nov 29th, 2021

President Nayib Bukele announced on Black Friday that the country had just purchased 100 more Bitcoins. Bukele made the announcement on November 26th on his Twitter account. With this purchase, El Salvador has a total of 1,220 Bitcoins.

“El Salvador just bought the dip. 100 extra coins acquired with a discount,” stated the President.

The crypto market lost about 8% percent of its value on Friday amid reports of the new coronavirus strain. Bitcoin price dropped from $59,100 on Thursday to $53,800 on Friday.

The amounts spent to make this new purchase is unknown, but it is estimated that the cost was 5.4 million. This estimated amount is based on the price of Bitcoin at the time of the announcement.

As of November 2021, El Salvador is only buying Bitcoins. The country is not selling any of the Bitcoins it owns, not even when the Bitcoin price reached a high of above $68,000 around November 10th.

The Legislative Assembly authorized the Bukele Government more than 200 million dollars to implement the Bitcoin project; it has become one of the main economic ventures of the Bukele administration.

As is usual, many people, locally and internationally, praised the President on different social media platforms for the new purchase of Bitcoin.

Thus far, Bitcoin has produced good results for Nayib Bukele and El Salvador.

On November 1st, President Bukele inaugurated the construction of the new pet hospital (ChivoPet) funded entirely by Bitcoin profits. The mandatary also promised to build 20 schools with bitcoin profits.

The President said that “Chivo Pets” hospital will generate 300 new jobs. He also reiterated that the bitcoin gains will allow its government to build new projects without state funds.

Now, it is not all good news for the Salvadoran President. Nayib Bukele has also has been heavily criticized locally and internationally for the Bitcoin implementation.

This criticism has increased after Bukele announced a 1 billion BitcoinCity that would be financed entirely with Bitcoin bonds, the first of its kind.

Additionally, the 2021 IMF report on El Salvador’s Economy acquaints that El Salvador might have difficulties getting IMF financing.

The IMF report praised the Bukele administration for their management of the pandemic and the quick economic turnaround. However, they made it clear that Bitcoin shouldn’t be a legal currency.

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