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

Published

3 years ago

November 18, 2022

Costa Haritos

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.

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.