The President of El Salvador, Naib Bukler, gave an important speech to the world on Bitcoin today on Twitter. Nayib Bukele stated that the Salvadoran government will provide each citizen with $30 in Bitcoin and emphasized that the first wallet application can be connected to any mobile phone. It can be used anywhere, and citizens can run it on the Internet without having to make a mobile phone plan for the application. In addition, Nayib Bukele also stated that merchants can choose not to hold Bitcoin.
El-Salvador has a little more than 6 million people. Since the government will provide each citizen with $30 worth of bitcoins for free, that's 180 million usd pumping into the market. Great news for short terms profit seekers! It seems the president of El-Salvador has some long terms plans with bitcoin and he is showing great confidence in it. I know IMF and world bank has recently turned down their request to help them building crypto infrastructure, so it will be a great learning to see how they overcome the odds.