Brazilians intend to purchase US$30 in Bitcoin on September 7th

September 7th will be a historic day for Bitcoin (BTC). This will be the date on which the cryptocurrency will be accepted as currency in El Salvador. To mark the date, a group of users got together to buy $30 worth of BTC on that date.

The attitude refers to the $30 that will be given by the government to each Salvadoran citizen. At first, the movement emerged on the r/Bitcoin subreddit, the largest BTC forum on the social network, and was proposed by a user named u/thadius.

Support or manipulation

According to the publication, the purchase would take place at the same time as the BTC became effective as the country’s currency, scheduled to take place at 7:00 pm (Brasília time) on the 7th. At the same time, users plan to make the purchases.

For u/thadius, the act could move almost US$ 100 million in the market. The calculation was made taking into account the US$30 multiplied by the 3.3 million community members. In this way, the forum could move almost half a billion reais in a few hours.

These numbers, by the way, led u/thadius’ attitude to suffer criticism within the subtopic itself. Some users accused him of wanting to manipulate the price of BTC in the community. Others compared the attitude to the stock manipulations carried out by WallStreetBets. However, the user defended himself and said he had no intention of manipulating the price.

“This is more of a supportive gesture rather than a manipulation. It is the first time a nation will adopt Bitcoin. This is an important moment. Let’s show El Salvador to those on the fence, show that the BTC has value for them. Bitcoin is significant,” he said.

Brazilians join the wave

Despite being marked by Bitcoin, the 7th of September is also the date of Brazil’s independence from Portugal. On that date, 199 years ago, Brazil became a free and independent country through the famous cry “Independence or Death” pronounced by D. Pedro I.

Therefore, Brazilians are also engaging in the movement of buying BTC. One of them is Renato Amoêdo, co-author of the book Bitcoin: The Red Pill.

“On 7/9 (Tuesday) at 5 pm (Brasilia time) I will buy 30 USD of BTC. Let’s see how many people join and the effect of that for those in shorts (sold).”

Even pages of bitcoiners from the land highlighted the relationship between the two dates. Similarly, Portuguese users also intend to join the movement. In short, it is a spontaneous action, with the aim of both supporting the community and showing how easy it is to acquire BTC.

Read also: Bitcoin could appreciate 250% after weekly close again, analyst says

Read also: Projections suggest an increase of up to 80% for Cardano, Chiliz and Stacks

Read also: Bank bailout could cost R$30 billion to B3 and the Central Bank