El Salvador, the first country to make Bitcoin legal tender, but unlikely to be the last, is buying 1 bitcoin a day. 

You can track their purchases here. 

https://bitinfocharts.com/bitcoin/address/32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo-nodusting

El Salvador actually started doing this on Nov. 18, 2022, when the bitcoin price was $16,600! Today it is $60,000.

There are 450 new bitcoin created each day through mining. There will only ever be 21 million created. Only 19,747,693.75 have been mined as of this writing (6-26-2024). 94%. The last bitcoin will be mined in 2140. 

El Salvador, a tiny country, is buying almost 1 full day’s worth of new bitcoin mined each year. Imagine how many other countries and companies could start buying this soon? 

I’ve already shared with this post, how many companies and pension funds have started buying bitcoin this year. 

The Wisconsin pension fund bought $160 million worth of bitcoin. 450 new bitcoin a day x $60k/btc = $27 million. So Wisconsin bought 5.9 days of new bitcoin supply. 

Do you think the state of Wisconsin will be the last Pension to buy bitcoin?