President Nayib Bukele introduced that El Salvador would purchase 1 Bitcoin (BTC) day by day beginning November 18.
We’re shopping for one #Bitcoin each day beginning tomorrow.
— Nayib Bukele (@nayibbukele) November 17, 2022
The current bear market doesn’t seem to have deterred President Bukele’s curiosity within the flagship digital asset. Beneath Bukele, El Salvador grew to become the primary nation to make BTC a authorized tender and the primary sovereign state to buy the cryptocurrency.
President Bukele had beforehand predicted that Bitcoin’s worth may attain $100,000.
El Salvador’s final Bitcoin buy was on June 30, 2022. Then, the nation purchased 80 Bitcoin at a median value of $19,000. Cumulatively, the federal government has spent over $100 million to accumulate a complete of two,381 BTC –the present bear market circumstances have dropped the asset’s worth to lower than $40 million.
In the meantime, the Central American nation was briefly within the information just lately after rumors emerged that it saved its Bitcoin on the bankrupt crypto alternate FTX. Binance CEO Changpeng Zhao labeled this misinformation as President Bukele advised him that the nation doesn’t have any Bitcoin on FTX and “by no means had any enterprise with them.”
President Bukele described BTC as the alternative of FTX and likened the struggling alternate to a Ponzi scheme.
The founding father of TRON Community, Justin Solar, expressed willingness to repeat President Bukele’s 1 BTC per day buy.
