El Salvador will airdrop $30 in BTC to every adult in the country that will download the BTC wallet from the government and will become eligible for an airdrop as we can see more in our latest bitcoin news.
The president of El Salvador announced the government will airdrop $30 worth of BTC to each adult citizen of the country and the announcement was happily welcomed with the influencers speculating the government will have to purchase the required BTC that it aims to distribute adding more than $100 million in purchase pressure on the market. A quick google estimate shows that the adult population varies with on-chain analyst Willy Woo tweeting that the global user base will grow by 2.5% thanks to the surge of $4.5 million citizens.
6 million people added to the crypto ecosystem in one go. 👏 pic.twitter.com/DVoW6vLrAK
— CZ 🔶 Binance (@cz_binance) June 25, 2021
Others placed the Salvadoran adult population as high as $6.5 million with Yahoo Finance anchor Zack Guzman using the figure for some calculations suggesting that $195 million worth of BTC will be airdropped in the country. The exact figures are hard to find but the reports from Statista show that in 2019, the population aged 15 and above reached $4.72 million. However, the crypto Twitter euphoria could be premature as the local publication Prensa Latina noted that the citizens in the country will receive the free BTC after downloading the government-created crypto wallet app.
The news was announced during a press conference with President Bukele stating that the wallet app will work anywhere with a good cell connection and you will not have to have a cell plan for the app. Bukele also stated that the BTC law of the country recognizes BTC as a legal currency nationwide that will come into effect on September 7. El Salvador’s BTC law was passed two weeks ago and while most the people praised it, the legislation faced opposition from the minority political party and the World Bank.
As recently reported, El Salvador president Nayib Bukele has just made Bitcoin a legal tender in the country and announced that he directed the state-owned electricity company LaGeo to offer facilities for BTC mining with cheap, 100% clean, and 100% renewable energy from the volcanoes. El Salvador will mine BTC with the power of its volcanoes as the new solution proposed by Bukele last week after passing the law upon its introduction to the Legislative Assembly.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]