Twitter and Reddit users are buying bitcoins in support of El Salvador, and the cryptocurrency rate is growing

Users of the Twitter and Reddit platforms are increasingly supporting the promotion, which suggests spending $ 30 to buy a small share of bitcoin. Thus, people decided to support El Salvador, where from September 7, Bitcoin will become an official means of payment. Against this background, the cost of a unit of the most popular cryptocurrency in the world exceeded $ 52 thousand, but by the time of this writing, it had slightly decreased, and about $ 51 350 was given for one bitcoin.

Image: Bloomberg

Image: Bloomberg

At the end of last month, the authorities of El Salvador began to install special bitcoin ATMs on the territory of the country, which can be used by citizens of the state to exchange cryptocurrencies for US dollars. In addition, the government has set up a $ 150 million fund to support the conversion of cryptocurrencies into dollars. Residents of El Salvador will be able to receive $ 30 in bitcoins by providing their identification number.

According to Vijay Ayyar, head of the Asia-Pacific division of cryptocurrency exchange Luno, the El Salvadorian authorities will have a difficult time coordinating and successfully implementing their plan. “Saying something and actually doing it are two different things.”, – says Aiyar.

It is worth noting that Bitcoin has been showing steady growth lately. For several days, the rate of the most popular cryptocurrency in the world is kept at around $ 50 thousand per unit, and on the eve of the launch in El Salvador as an official means of payment, the cost of bitcoin rose to $ 52 thousand per unit.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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