El Salvador trusts Bitcoin with $ 150 million, which is assigned to a BTC trust fund

Bitcoin (BTC) will officially become a legal means of payment in El Salvador on September 7 and the government is now focusing on cryptocurrency.

el Salvador sets a Bitcoin true-to-hand fund of $ 150 million

The government of El Salvador has shown its commitment to Bitcoin after setting up a trust fund of $ 150 million. The trust fund was approved by the financial commission of the legislative assembly of El Salvador and is to be used to support the country's plan to make BTC a legal means of payment.

el Salvador was the first country in the world to write history that introduced the leading cryptocurrency as a legal means of payment. The proposal was approved a few months ago, but will come into force in less than a week.

el Salvadors Daily newspaper Diario de Hoy has now reported that the government has provided $ 150 million to help her introducing Bitcoin. According to the publication, the government could increase the money in the trust fund if necessary.

The government will also launch Chivo, its official Bitcoin wallet, on September 7th. While using the wallet and Bitcoin is an option, those who download and use the wallet receive $ 30 in BTC from the government. According to the legislator, the $ 150 million provided in the Bitcoin Freuhandfonds would help distribute the $ 30 bonus to citizens who register for the Chivo wallet.

The introduction has also won on driving because the government of El Salvador has installed over 200 Bitcoin money machines across the country. Bitcoin's price has been quiet in the past few days, with the leading cryptocurrency trade just over $ 47,000 per coin.

BTC has fallen by less than 1% in the last 24 hours and was unable to exceed the resistance of $ 48,000 on the third day in a row.

Not everyone is on board

Not all El Salvadorians agree to the government's plan to make Bitcoin a legal means of payment. There were Protests in El Salvador People not satisfied with the idea of ​​having BTC as a legal means of payment.

The protests did not prevent the government from being held from their mission. Bitcoin's status would be established in El Salvador as a legal means of payment, since the government's belief in the cryptocurrency is strong.