El Salvador will airdrop $30 of Bitcoin to every adult citizen

The President of El Salvador announced that the government will airdrop $30 worth of Bitcoin (BTC) to every adult citizen of the country.

The announcement was welcomed by Bitcoiners, and influential people speculated that the Salvadoran government will need to purchase the required Bitcoins it intends to distribute, which puts more than $100 million in buying pressure on the market.

A quick search for estimates of El Salvador’s adult population varies, chain analyst Willy Woo Tweet Due to the influx of 4.5 million Salvadorans, Bitcoin’s global user base will grow by 2.5%.

Others believe that El Salvador has an adult population of 6.5 million (actually the total population), Yahoo Finance anchor Zach Guzman A rough calculation using this number indicates that $195 million worth of Bitcoin will be airdropped across the country.

It is difficult to find the exact number, but Statista shows that the population of 15 years and over in 2019 is 4.72M.

However, the excitement of encrypted Twitter may be premature, as the local publication Prensa Latina pointed out that citizens of El Salvador can only receive free bitcoins after downloading the government-issued cryptocurrency wallet app.

The news was announced at a press conference on June 25, President Booker statement The government’s “wallet app can even work wherever a cell phone is connected, and you don’t have to make a cell phone plan for the app.”

President Bukele also stated that the country’s acclaimed Bitcoin law Recognize BTC as legal tender nationwide Will take effect on September 7.

related: The opposition poses a constitutional challenge to El Salvador’s Bitcoin law

El Salvador’s Bitcoin law was passed about two weeks ago.Although this move was praised by the global crypto community, the legislation was met with a small number of political parties and World Bank.