News View Non-AMP

El Salvador Celebrates 3 Years of Bitcoin: A Taxi Driver Became a Millionaire

Published by
Zafar Naik

Today Marks the 3 year anniversary of El Salvador declaring Bitcoin its legal tender. No other nation has shown this level of a gutsy move. El Salvador declared Bitcoin its legal tender on September 7, 2021 and following it, the Central African Republic did the same on April 22, 2022. Let’s find out how well the country is performing after Bitcoin and how a taxi driver became a millionaire.

The president of El Salvador, Nayib Bukele took a high risk and declared Bitcoin the legal tender. Despite multiple warnings of volatility risks from multiple global institutions, Bukele did not budge from his decision. His strong stand has made El Salvador a historical digital asset pioneer. They wrote their name in gold as the first country to take a vanishing-level risk and put all their money into Bitcoin.

El Salvadore started buying one Bitcoin everyday since 2021 doing dollar cost averaging. Along with the daily bing, the country also took advantage of dips to accumulate hundreds of coins in a single day.  Data from Nayib Tracker shows that the country now holds 5,865 Bitcoin worth $310 million and is sitting at a 24.26% profit i.e. $32.36M. After three years of buying, the average cost of their purchase is $43,877.47 per BTC. That’s the power of dollar-cost averaging.

Napoleon Osorio, is a 39 years old millionaire businessman who used to drive a cab that he did not own. The US founder of NGO My First Bitcoin encouraged him to take fare in Bitcoin. Osorio took his advice and today he has a rental car business named Bit-Driver and has 21 drivers. From unable to pay utility bills to helping others earn their wages, this is one of the life changing stories of Bitcoin in El Salvador. From juice bars to ice cream parlors, bitcoin has changed the whole story of the country and its citizens. 

A huge number of people still haven’t onboarded with Bitcoin, but the country is already growing faster than others.

Also Read : Coinbase Triumphs Over SEC: Major Legal Win Reveals Crypto Secrets!

Zafar Naik

Zafar is a seasoned crypto and blockchain news writer with four years of experience. Known for accuracy, in-depth analysis, and a clear, engaging style, Zafar actively participates in blockchain communities. Beyond writing, Zafar enjoys trading and exploring the latest trends in the crypto market.

Recent Posts

Bitcoin’s (BTC) Price Prediction and Why Ruvi AI (RUVI) Is The Most Promising Project in 2025?

Bitcoin is once again captivating the world of finance. The cryptocurrency recently surged to $95,000,…

April 28, 2025

Start Exploring Pigdom With A Surprise From The King Pig-The $KOPS ICO Is Fast Approaching

The memecoin market is always chaotic and holds lots of hidden surprises. Yet, many traders…

April 28, 2025

Bitcoin Price Prediction-Here’s What’s Incoming for the BTC Price Rally This Week

The crypto markets are displaying significant strength since the early trading hours, with the prices…

April 28, 2025

Supra Unveils AutoFi and SupraNova to Transform Cross-Chain DeFi

According to Supra, the future of DeFi is omnichain and fully interoperable, because therein lie…

April 28, 2025

This $0.025 Token Is on Track for a 3400% Run, According to Market Analysts

In a crypto market where many tokens are competing for visibility, only a few stand…

April 28, 2025

Here’s When Altcoins Will Rally

Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above…

April 28, 2025