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Movement organizes Bitcoin pump to support El Salvador’s adoption
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Movement organizes Bitcoin pump to support El Salvador’s adoption

A Brazilian initiated Reddit community is willing to buy $30 in Bitcoin tomorrow to support Salvadoran's new legal tender

Maluh Bastos
Sep 6, 2021
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Movement organizes Bitcoin pump to support El Salvador’s adoption
news.klever.io

Social media users are making a movement to pump Bitcoin’s price in order to support El Salvador’s adoption of the cryptocurrency as a legal tender. The initiative began with Brazilian Reddit users who assembled more people to be a part of the action. 

It was suggested that the users purchase $30 worth of Bitcoin to add to the pump. The idea on the Reddit thread was to raise circa $99,505,860 using the basic math of multiplying the number of community members times $30.

They chose the amount of $30 to collaborate because that is “the amount the Salvadoran government is planning to airdrop into people’s controversial state-run Chivo wallets as part of a national adoption plan”, said the twitter user Alex Gladstein who was one of the people who spreaded the Reddit thread. 

Twitter avatar for @gladsteinAlex Gladstein 🌋 ⚡ @gladstein
Why $30? That is the amount the Salvadoran government is planning to airdrop into people’s controversial state-run Chivo wallets as part of a national adoption plan. Note: these wallets appear to be centralized dollar accounts that can accept incoming / pay outgoing BTC on-chain

September 5th 2021

8 Retweets206 Likes

According to the member of the community who suggested the initiative the idea was supposed to be a support rather than a pump - considering that El Salvador’s is going to be the first country to adopt Bitcoin as a legal tender. 

Since the crypto launch is scheduled to happen at 3pm PST, the community decided that they’ll do the pump by 2pm - an hour before the launch. 


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