President Nyib Bukele, during a press conference this morning, announced the government’s decision to give $30 airdrop of Bitcoin to every adult in the country.
However, this is only for the adults who have downloaded the government’s Bitcoin wallet app on their gadgets. According to the President, that’s the only criterion.
At present, the adult population of Salvadorians is around 6 million. Therefore, if the government were to airdrop $30 to each of them, they must have invested around $190m to execute this.
On this note, market analysts have postulated that this will affect the Bitcoin market as the holders will increase. And the price might have to scale up a little – which is helpful to the current dip anyway.
The progress of El-Salvador in regards to Bitcoin acceptance is no longer news in the cryptocurrency space. The El-Salvador parliament passed the Bitcoin Law some weeks back, and it will come into effect fully on September 7 this year.
There have been mixed reactions concerning the reception of these airdrops. The majority of the Salvadorians are, according to our correspondence, happy with it. However, the opposition parties and international community are not too well in agreement.
Either way, it’s obvious that El-Salvador is hell-bent in incorporating Bitcoin into its financial system as seamlessly as possible.