The President of El Salvador Nayib Bukele has just announced that they will be airdropping $30 worth of Bitcoin to every adult citizen in the country. The announcement was welcomed by numerous bitcoin enthusiasts and influencers that speculated that the Salvadorian government will need to buy the necessary amount of Bitcoin it intends to distribute among the population. The government’s purchase of $100 million bitcoins has put the market under pressure from all the purchases.
According to statistics, the adult population in El Salvador varied significantly. On-chain analysts Willy Woo tweeted that Bitcoin users around the world will increase by 2.5% due to the influx of 4.5 million Salvadorians.
Other sources detail the adult population in El Salvador is as high as 65 million, which is actually the overall population. Yahoo Finance anchor Zack Guzman used the figures to a call calculation and implied that $195 million Bitcoin will be airdropped across the entire country.
While the exact number is tedious to find, statistics show that the population in El Salvador aged 15 and above was estimated to be 4.27 million in 2019. However, the celebration might be early for Crypto Twitter, for it is revealed in the local publication Prensa Latina that each Salvadorian citizen will receive free Bitcoins after they download the government-issued crypto wallet app.
The announcement was made during the press conference on Friday with the Salvadorian president Nayib Bukele stating the government-issued wallet app will be a convenient tool that will work on every cell connection, and so on. The president also stated Salvador’s bitcoin law, which was passed two weeks ago to recognize the cryptocurrency as a legal tender, will be fully implemented on September 7th. The global crypto community has given plenty of praise to El Salvador’s decision for passing the law to legalize Bitcoin