El Salvador buys its first 200 bitcoins, president says

President Nayib Bukele on Monday said that El Salvador has bought its first 200 bitcoins, as the country approaches the planned formalization of the cryptocurrency as legal tender.

El Salvador is set to legalize bitcoin on Sept. 7, a plan announced by Bukele in June.

"Our brokers will be buying a lot more as the deadline approaches," Bukele added in his tweet.