TL; DR failure:
- El Salvador has bought another 150 bitcoins and increased its assets to 700 bitcoins.
- Meanwhile, there is a lawsuit against the government seeking to investigate their first version of Bitcoin.
The El Salvadorian government continues to climb the largest cryptocurrency, despite complaints from a human rights organization in the country about the supply of its bitcoins. In a Tweet On Monday, El Salvador’s Vice President Buckel revealed that they had purchased another 150 bitcoins (BTC).
El Salvador currently has 700 BTC
The El Salvador government added another 150 bitcoins to its reserves, valued at more than $ 6.7 million, at a current value of $ 44,964 per BTC. In total, the country now has 700 bitcoins in its name (equivalent to $ 31 million). The first 400 bitcoins were purchased on September 6 and 150 bitcoins on “Bitcoin Day”.
For registration, the people of Central America are the first country to recognize and accept bitcoin as a legal tender. The government also enacted regulations to make it easy to set up and use cryptocurrencies in the country. They introduced a native wallet called Chivo, including Bitcoin ATMs, for a quick experience.
The court may investigate the government of El Salvador.
The El Salvadorian Court of Accounts may reportedly investigate the government for its actions regarding bitcoin. A human rights organization known as Crystal sued the court on September 10 to review the government’s budget for installing cryptocurrencies as well as buying bitcoins.
The lawsuit was filed against six board members over a $ 150 bitcoin credit that was drawn for investing in bitcoin. It also included members of the country’s Ministries of Finance and Economy.
The Court of Auditors noted: “Once the complaint has been accepted, a legal analysis report will be made and, in a timely manner, such a report will be sent to the public audit coordinator.”