November 26, 2022

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Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation

1 min read
Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation

One of the biggest factors differentiating Bitcoin (

Salvadorean President Nayib Bukele announced plans to acquire 1 BTC every day starting from Nov. 17, 2022.

Public records show that El Salvador currently holds 2,381 BTC at an average buying price of $43,357. However, stagnant Bitcoin performance opened up a window of opportunity for the country to substantially bring down its average price of Bitcoin acquisition.