Cryptocurrency Q&A
How much money has Bukele spent on Bitcoin?
How much money has Bukele spent on Bitcoin?
Michele
Sat Jul 06 2024
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5 answers
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I'm curious to inquire about the financial details surrounding El Salvador's adoption of Bitcoin as a legal tender. Specifically, I'm wondering: How much money has President Bukele allocated for the purchase and implementation of Bitcoin in his country? This question stems from the significant implications that such a move would have on El Salvador's economy, as well as the global perception of cryptocurrencies. Given the volatile nature of Bitcoin, it's crucial to understand the extent to which El Salvador is committing its resources to this endeavor.
5 answers
BonsaiLife
Mon Jul 08 2024
Despite Bukele's reluctance to reveal the exact amount of taxpayer funds allocated for Bitcoin purchases, estimates based on his public announcements suggest an investment of $107 million.
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ShintoSanctuary
Mon Jul 08 2024
Adding to this significant sum, a further $200 million has been allocated towards administrative and infrastructure costs related to the Bitcoin initiative.
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Sara
Sun Jul 07 2024
This combined expenditure of $307 million represents a substantial portion of the developing country's financial resources.
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CryptoAlly
Sun Jul 07 2024
In fact, it is equivalent to nearly 4% of the country's projected budget for 2023, highlighting the significant priority and commitment to Bitcoin and cryptocurrency integration.
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CryptoKnight
Sun Jul 07 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services to facilitate cryptocurrency trading and adoption.
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