El Salvador Buys 410 More Bitcoins In Recent Dip

2022-1-26 19:00

El Salvador President Nayib Bukele announced that the Central American country purchased 410 more Bitcoins in a recent market dip. The announcement came days after his administration revealed its intentions to invest significant funds into cryptocurrency mining operations.

Amid market drop, El Salvador purchases 410 more bitcoins. President Bukele says the nation now has over 1,800 BTC and plans to issue a $1 billion 10-year bitcoin bond this year.

El Salvador is the first country to adopt bitcoin as legal tender, and we have seen great results so far. The country’s central bank reported that it had bought at least 1,391 Bitcoin before the Friday dip.

Bitcoin price recovered about 3% on Jan 24, 2022 | Source: BTCUSD on Tradingview.com

El Salvador has a new plan to make it the crypto-mining capital of Central America. With plans for an entire city focused on cryptocurrencies and tax breaks available only if you’re born there or invest money into blockchain projects, this country is quickly becoming one worth keeping your eye upon.

Salvadoran President Bukele believes that if bitcoin becomes an integral part of their country’s economy, it would be curtains for FIAT.

Bukele’s Tweets On Buying 410 Bitcoins

Bukele’s first tweet was on Jan 14, 2022, “I think I might have missed the dip this time.”

In reply to that tweet, Bukele added, “Nope, I was wrong, didn’t miss it.” He also added, “El Salvador just bought 410 #bitcoin for only 15 million dollars.” 

The tweet quickly became an online sensation and gathered over 20,000 likes in just one hour.

Additionally, EI Salvador president Bukele mentioned in his tweet, “Some guys are selling really cheap.”

Was It Worthy Adopting Bitcoin As National Currency?

Bukele’s decision to make El Salvador the first Latin American country with a legal cryptocurrency sparked substantial controversy. The implementation of bitcoin as a national currency has been met by violent resistance from citizens. People believe that it will only benefit large investors rather than everyday people.

The El Salvador national debt is at an all-time high, with over 50% of the GDP in July. As a result, Moody’s has downgraded their credit rating to Caa1. This marks precarious investment opportunities. People choose not to invest in the country because they want peace of mind regarding currency stability and risk mitigation against unexpected events.

A recent report shows that El Salvador is seeking help to the tune of $1.3 billion from The International Monetary Fund. The country asked for help after adopting Bitcoin into its legal tender system. However, IMF already warned the Government not to adopt Bitcoin as a currency.

Featured image from Pixabay, chart from TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Etherisc DIP Token (DIP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0251189
Капитализация $0 Rank 99999
Цена в час новости $ 0.1651 (-100%)

dip bitcoins recent 410 salvador intentions revealed

dip bitcoins → Результатов: 30


Фото:

El Salvador Purchases Another 21 Bitcoins To Mark The 21st Day of 21st Year of 21st Century

President Nayib Bukele announced the purchase of an additional 21 Bitcoins on Wednesday at an average price of $49,310, bringing the country’s total stash to 1,291 coins. Unlike previous purchases which have been informed by Bitcoin’s dip, the latest one was done in commemoration of a special day in the cryptocurrency’s history; in fact, one […]

2021-12-22 12:42


Bitcoin developer proposes ways to solve BTC’s price dip; Twitterverse calls it an April Fools’ Day joke

Bitcoin developer Luke Dash Jr has proposed a way to fix Bitcoin’s price decline by setting a global minimum price for Bitcoins. In a recent tweet by the developer, Dash proposed a Bitcoin soft fork for a minimum price of $50k USD/BTC via Bitcoin Improvement Proposal or BIP that can be deployed in the Bitcoin Core v0.

2019-4-2 00:30


Фото:

Cboe Will Not Relist Bitcoin Futures Contracts for March

The Chicago Board Options Exchange (Cboe) announced that it will not list upcoming Cboe Bitcoin (“XBT”) futures contracts for trading in March 2019. The Cboe Futures Exchange said that the company is “assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading,” stating that it has no intention to list additional contracts for trading relating to the cryptocurrency.

2019-3-16 01:00