El Salvador is preparing to hand out $135 million worth of bitcoins to its citizens.
Last Thursday, El Salvadorian President Naib Bukele announced that El Salvador’s adult citizens would receive $30 worth of bitcoins for free after setting up their account on a government cryptocurrency app, Forbes reports.
An estimated 4.5 million adults live in the country, which Reuters reports will officially accept bitcoin as legal tender on September 7 this year.
According to network analyst Willie Wu, if all 4.50 million Salvadorians decide to get free BTC, it will instantly increase the bitcoin user network by 2.50%.
