From Gizmodo.com…
The government of El Salvador purchased at least 200 bitcoin recently, ahead of the country officially recognizing bitcoin as a form of legal currency on Tuesday. The purchase brings the government’s total holdings to at least 400, the equivalent of roughly $20.5 million in crypto based on this morning’s price.
“El Salvador just bought 200 new coins,” President Nayib Bukele tweeted on Monday night. “We now hold 400 #bitcoin #bitcoinday”
Bukele, a 40-year-old aligned with the political right wing, championed a law back in June to officially recognize bitcoin as a national currency. The law going into effect today, meaning people will be able to pay their taxes with bitcoin, and perhaps most importantly, avoid capital gains taxes on bitcoin in the country.
