El Salvador Buys The Bitcoin Dip

in #bitcoin • 3 years ago

President Nayib Bukele of El Salvador bought the dip when Bitcoin crashed 16%.

Bitcoin (BTC) holders took profits on Tuesday, just as El Salvador moved to recognize the digital currency as legal tender in a landmark move that could have significant implications for global adoption.

Salvadoran President Nayib Bukele confirmed that his government bought the dip by snatching up 150 BTC during the depths of the selloff. As Cointelegraph reported, El Salvador made its first BTC purchase Monday on the eve of the Bitcoin Law coming into effect. The initial purchase of 200 BTC was valued at roughly $10.4 million.

El Salvador now holds 550 BTC, worth roughly $28.8 million at current prices.

https://cointelegraph.com/news/el-salvador-buys-the-dip-as-bitcoin-price-flash-crashes-to-42-9k

shutterstock_1759332341 The flag of El Salvador.jpg

3 years ago in #bitcoin by
$0.00
    2 votes
    Reply 0

    Coin Marketplace

    STEEM 0.20
    TRX 0.14
    JST 0.029
    BTC 66603.07
    ETH 3335.94
    USDT 1.00
    SBD 2.70