El Salvador Purchased Another 150 BTC as Bitcoin Dipped to $45K
The first nation to legally adopt bitcoin now owns 700 coins after a new purchase, updated the president of the country. This has become another “buy the dip” moment, as BTC’s price dropped to $45,000.
El Salvador’s president – Nayib Bukele – took it to Twitter on September 20th to inform that the nation has “bought the dip” by accumulating 150 new bitcoins.
El Salvador has apparently taken advantage of the lower prices as BTC dipped from over $48,000 yesterday to just above $45,000 today.
The latest buy comes after a few previous ones, with the first taking place on September 6th. On that day, just before bitcoin became a legal tender within El Salvador’s borders, the country made the initial purchase of 200 BTC.
Upon announcing the news today, president Bukele added, “they can never beat you if you buy the dips,” and that this was “presidential advice.”
As mentioned above, El Salvador legalized the primary cryptocurrency on September 7th; thus, becoming the first-ever nation to do so, although several others have dabbled with the same idea since.
To boost further adoption and investments, El Salvador further provided some benefits for those aiming to use the cryptocurrency.
Foreigners can buy citizenship for 3 BTC. Additionally, Bukele’s legal advisor, Javier Argueta, suggested that foreign investors will not have to pay taxes on any profits connected to bitcoin.
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