"El Salvador is the best, never had a negative view of BTC."
El Salvador, the country that will make the cryptocurrency Bitcoin (BTC) legal tender in 2021 has been found to be continuously and consistently increasing its holdings in the highly regarded digital asset.
In the last two days, the country's President Nayib Bukele said that El Salvador currently has a stockpile of 5,700 BTC worth more than $400 million compared to mid-March 2024 of about 5,690.
He added that his country's BTC holdings were transferred to cold storage and then published their own BTC wallet address, where it was just under 5,690 BTC, which is significantly more than estimated by public trackers of El Salvador's holdings.
In addition to the country's old policy of buying one BTC per day, El Salvador is also adding to the digital asset through the sale of passports, currency exchanges from businesses and mining services or the government.
Consistently positioning itself as a BTC-friendly country, El Salvador also this month eliminated income tax on money coming into the country from abroad to make it an attractive destination for foreign investment and BTC enthusiasts.
Not only that, El Salvador also introduced a law in December 2023 that grants citizenship to BTC investors who make any contribution to the government.
On the other hand, Binance has received a full operating license to offer services in El Salvador while BTC usage in the country is on the rise.
