Central American nation El Salvador has made a new 21 Bitcoin (BTC) acquisition as a way to commemorate December 21 of the year 2021 and in the 21st Century. As shared in a Tweet, President Nayib Bukele debunked chances that the trend is a coincidence as the number 21 also represents the total number of Bitcoin supply pegged at 21 million and also accounts for the 21,041 square kilometers, El Salvador’s size.
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
The purchased BTC is worth $1.031 million going by the current Bitcoin price of $49,124.48 according to data from CoinMarketCap. The country is now known to make Bitcoin purchases as a way to commemorate crucial events or holidays. Ranking as the first nation in the world to adopt Bitcoin as a legal tender against all odds from the International Monetary Funds (IMF), and the World Bank, the country purchased 200 BTC back in September.
Based on Bukele’s aggressive stance about Bitcoin and its potentials, El Salvador has made a number of additional Bitcoin purchases in recent times, one of which is the 100 BTC acquired on November 26, this year’s Black Friday event. The government also made a 420 BTC acquisition back in October in reference to cannabis culture slang for marijuana.
El Salvador’s Bitcoin Ambitions Transcends Occasional Acquisitions
All eyes are on El Salvador by the global community as many critics still consider the purchase of Bitcoin using national funds as an uncalculated and reckless move. However, El Salvador has a bigger plan in its newfound love for Bitcoin.
According to insights gained from Nayib Bukele, the country is currently at the advanced stages of a geothermal mining plant, designed to mine Bitcoin using energy from the country’s rich volcanoes. Beyond this, El Salvador is raising funds to build a Bitcoin City, a region that will operate using Bitcoin standards.
The country has many ambitious plans in the works, and despite the fact that Nayib Bukele’s approach towards adopting the Bitcoin digital currency as a legal tender got off towards a rough start, the country is actually reaping the benefits of Bitcoin adoption already. As reported by TheCoinRise last month, El Salvador built about 20 schools using income from its Bitcoin hodling, a trend that is poised to continue into the distant future.