It seems that El Salvador also benefited from buying a squeeze after Bitcoin’s plunge.
Bitcoin’s price, which hit a high of over $ 52,800 on the 6th, plummeted to $ 42,900 on the 7th, according to Cointelegraph Markets Pro. In 24 hours from the peak to the valley, it plummeted by about 19%.
El Salvador’s President Nayib Bukele tweeted that he bought more Bitcoin, seeing the crash as an opportunity to buy more.
Buying the dip
150 new coins added.#BitcoinDay #BTC
– Nayib Bukele (@nayibbukele) September 7, 2021
However, five minutes later, although it was a pity that the price rebounded as soon as “the discount was over”, the purchase of Bitcoin “saved 1 million printed banknotes”. Mentioned IMF and tweeted. The IMF has warned of El Salvador’s legal tenderization of Bitcoin, ridiculing the IMF’s stance.
El Salvador currently holds 550 BTC due to bargain purchases. It is worth about $ 28.8 million at the current price.
It appears the discount is ending
Thanks for the dip @IMFNews. We saved a million in printed paper.
El Salvador now holds 550 bitcoin.#BitcoinDay #BTC
– Nayib Bukele (@nayibbukele) September 7, 2021
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