El Salvador Historical Bitcoin $100,000

Last Week In Bitcoin is a series discussing the events of the previous week that occurred in the Bitcoin industry, covering all the important news and analysis.

Summary Of The Week

It’s been a whirlwind week in bitcoin as El Salvador officially started accepting bitcoin as legal tender, giving citizens $30 worth of bitcoin each and paving the way for further adoption around the globe. Global behemoths like McDonald’s and Starbucks started accepting bitcoin in the country, who knows maybe they’ll start doing the same elsewhere in the near future.

Of course, all was not well this week, despite it being what can only be considered a historic week for bitcoin. On the same day El Salvadorans queued to receive their bitcoin and start using it across the country, bitcoin saw a dramatic tumble which many consider a coordinated effort to undermine the currency. Here’s what happened this week in bitcoin:

A Historically Bullish Week

On Monday, bitcoin started off what many hoped would be a bullish week by breaching $51,000 for the first time since May 14, 2021, in the run up to El Salvador officially accepting bitcoin as legal tender. Nayib Bukele, El Salvador’s president, announced on Monday that the country had purchased its first 200 BTC, it would acquire an additional 200 BTC early on Tuesday.