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El Salvador keeps making headlines for itself as the pioneering and frontrunning nation in the crypto space. On Tuesday President Nayib Bukele announced the purchase of 21 Bitcoin (BTC), at a price of a little over $49,000 per coin.
El Salvador’s latest investment has attracted headlines, not because of its significant worth of just around $1million this time, but as a result of the symbolic value it holds. As per the words of Bukele, the 21BTC celebrate “the last 21st day of the year 21 of the 21st century” and is an homage to Satoshi Nakamoto, commemorating Bitcoin’s limited, non-inflationary supply of 21 million BTC.
As the icing on the cake of all festivities, Bukele also told his followers that the entire size of El Salvador is reportedly around 21,041 square kilometers, which should not be seen not a coincidence as El Salvador is the first country in the world to adopt Bitcoin as legal tender.
El Salvador is coming out in creative ways to ‘justify’ new BTC additions since its first 200BTC purchase in September. The country celebrated Black Friday by adding 100BTC to its totals. In addition, its October purchase of 420 BTC came shortly after US crypto exchange FTX raised $420 million with the number “420” by some referred to as a conscious cannabis reference.
El Salvador’s latest purchase was on December 4, when it added 150BTC to its totals at an average price of $48,670.