El Salvador’s President wants to buy one Bitcoin a day

El Salvador’s President wants to buy one Bitcoin a day, as criticism grows over his pro-crypto policy

The South American nation is the first to make Bitcoin legal tender.

The President bought 80 Bitcoin using taxpayer funds for 19-thousand dollars earlier this year.

It’s all part of a plan to give the population more access to banking services and transfers.

An opinion poll shows more than 75 per cent of the population thinks it’s a failure of a policy.

The price of Bitcoin is hovering below 17,000 dollars, down from 45,000 in September of last year when the country made the coin as legal tender.

Up next
Is Australia’s economy being held hostage by the housing market?

Australia’s growing dependence on property is raising questions about the long-term strength of the economy, with housing affordability.

Read the story →

More from Ticker

Watch