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OPINION: President Nayib of El Salvador may adopt Pi Network as Government and all citizens trade crypto

El Salvador is just one of the countries where crypto is traded by everyone including the president. Last year, it was reported that the Government of El Salvador through the President Nayib Armando Bukele Ortez spent over $1.52m purchasing just 80 Bitcoins.

It was also reported prior or previously that the El Salvadoran government had lost over $60 million dollars on crypto assets within the same period.[irp]

President Nayib may consider spreading his investment wide and this time into PiCoin as the platform poses more prospect after the Mainnet launch. El Salvador is investment hugely into crypto assets and so far the country has spent nothing less than $20m holding Bitcoins. Investing in the Pi Network may have more ROI considering the fact that it’s numerous users has made it the most trending crypto asset at the moment.

Reports has it that the US-based software company MicroStrategy (MSTR) is the world’s biggest publicly traded corporate owner of bitcoin with holdings of about 129,218 BTC, according to its Q1 2022 earnings report. MicroStrategy’s BTC holdings were worth over $3bn, as of 22 July 2022. Tesla (TSLA) is also known to be a holder of bitcoin.

Watch the video below to understand more 👇🏿

In case you are not aware

  • El Salvador, officially the Republic of El Salvador, is a country in Central America. It is bordered on the northeast by Honduras, on the northwest by Guatemala, and on the south by the Pacific Ocean. El Salvador’s capital and largest city is San Salvador.
  • Nayib Armando Bukele Ortez is a Salvadoran politician and businessman who is the 43rd president of El Salvador, serving since 1 June 2019.
  • The total number of BTC owned by El Salvador is about 2,300 (around $72.5 million).

 

Written by Grace Owell

Grace Owell is an expert freelance writer from Texas, United States of America. Her expertise measures solely on personal finance and health articles. She currently writes for newsway.com.ng

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