In a series of tweets, President Najib Boukele announced that the country has bought a total of 400 bitcoins, as a first step in adopting cryptocurrency in its balance sheet.
The tweets were published a few hours apart. Based on the price of bitcoin at the time of the tweets, the value of the cryptocurrency purchased amounted to about $ 20.9 million, while Boukele said that further purchases will be made.
The Twitter posts came just hours before El Salvador’s bitcoin law, which was passed in June, went into effect. El Salvador is the first country to accept bitcoin as a legal tender, which will be issued in parallel with the US dollar.