It has not long ago when El Salvador had passed a rule about cryptocurrencies. As a result, cryptocurrencies and Bitcoin (BTC) now have legal status in El Salvador. Although it has not been much of a time since that happened, El Salvador has already fast-tracked the adoption of Bitcoin (BTC) and altcoins in the country.
As per the latest reports, El Salvador has come up with a newer way of exposing more adults in the country to digital currencies. Out of the rest of the cryptocurrencies, El Salvador is more interested to work around Bitcoin (BTC).
This is the reason why the recent maneuver and strategy they have come up with for crypto-exposure is unique and expensive. The reports suggest that the government of El Salvador is planning to airdrop $30 worth of Bitcoin (BTC).
The person to come up with the idea is none other than the president of El Salvador. He has announced that they will be carrying out an airdrop that would contain $30 worth of Bitcoin (BTC). The airdrop will be for the adult citizens of the country.
The announcement made by the president of El Salvador was well received by the Bitcoin (BTC) community all over El Salvador as well as the entire world.
However, the influencers and the market observers are now talking about the acquisition of Bitcoin (BTC). It is quite obvious that the government of El Salvador needs to arrange a large amount of Bitcoin (BTC) before it can airdrop it.
The rough estimation made by the analysts suggests that the government of El Salvador needs to buy over $100 million worth of Bitcoin (BTC). This is going to put a lot of buying pressure on the entire Bitcoin (BTC) market.
On the other hand, it causes a positive impact on the overall price and market of Bitcoin (BTC). As El Salvador is constantly making a move in the Bitcoin and altcoin market, it can have a positive and everlasting impact on the cryptocurrency markets.
Therefore, the entire cryptocurrency industry has its eyes set upon what the government of El Salvador will do next to boost the reputation of the cryptocurrency industry.
Willy Woo, one of the famous analysts in the cryptocurrency industry has run a quick Google check on the population of El Salvador. He revealed that at present, the population of El Salvador comprises 4.5 million adults.
This means that if the Salvadorian’s board the Bitcoin (BTC) train, then their overall user base of Bitcoin (BTC) would increase by 2.5%.
Other analysts such as Zack Guzman, an analyst from Yahoo Finance have claimed that the population of adults in El Salvador is more than 6.5 million.