El Salvador will buy an estimated $135,000,000 worth of Bitcoin (BTC)

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%.

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