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Bukele posted an update that El Salvador πŸ‡ΈπŸ‡» who hold ~3,233 BTC is now in the black.

With a population of 6.5 Million people, they make up about 0.08% of earth’s population.

They already hold 0.015% of the world’s 21M Bitcoin supply or nearly double the per capita allocation for their population.

They’re going to be a very wealthy nation in 1-2 generations.

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π–‹π–Žπ–†π–™π–‰π–Šπ–“π–Žπ–Šπ–— (Β―`◕‿◕´¯) 2y ago

I am going take what he said with a grain of salt. He said El Salvador was buying 1 BTC a day in Nov 2021. How did they accumulate 3000 BTC in 2 years? Doesn’t make any sense

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π–‹π–Žπ–†π–™π–‰π–Šπ–“π–Žπ–Šπ–— (Β―`◕‿◕´¯) 2y ago

I meant NOV 2022

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sperry 2y ago

The government of El Salvador purchased β‚Ώ400, worth about $20.9 million at the time, on September 6, 2021.

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sperry 2y ago

In November 2022, El Salvador President Nayib Bukele announced a country-level dollar cost averaging (DCA) plan, promising to buy one bitcoin every day. At the time, the country – based on public statements from Bukele - was already the owner of 2,381 bitcoins purchased at an average price of roughly $44,300.

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π–‹π–Žπ–†π–™π–‰π–Šπ–“π–Žπ–Šπ–— (Β―`◕‿◕´¯) 2y ago

Oh I see, but in that case they have accumulated more than 1000 in a year, that is more than 1 a day.