Crypto Law Supported $30 E-Wallet Airdrop. However, Bitcoin Jumped 5%

  Crypto Law Supported $30 E-Wallet Airdrop. However, Bitcoin Jumped 5% Bitcoin's rise has coincided with announcements made by El Salvador's president, speaking at a national address on Thursday evening. The rise continued for 3 consecutive business days after El Salvador announced the date when it would commission crypto as legal tender and gift every citizen $30 via an e-wallet. CoinDesk 20 data reports that Bitcoin is currently changing hands at $34,294, up over 5% on a 24-hour basis. In a statement, Bukele explained that it has legislated that its citizens can receive $30 in free bitcoins if they sign up for their Chivo e-wallet with facial recognition.

Bitcoin's rise has coincided with announcements made by the president of El Salvador, 

The president also added that the controversial bitcoin law in the country will come into effect on September 7. These statements, China's anti-crypto crackdowns, and short-term decisions like the US could be a boon for bitcoin in the long run. On the other hand, the Federal Reserve's hawkish trend towards interest rates continues to linger. Meanwhile, bitcoin's price action and traditional markets posted stronger gains on positive news between a five-person bipartisan Senate group and US President Joe Biden.  

Source: Coindesk

 

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