Nayib Bukele announces Bitcoin prescription for El Salvador: 1 BTC per day
El Salvador currently holds 2,381 BTC with a total investment of $103 million, the value of their BTC investment has decreased to 39, $4 million in current market conditions.
New
As the first nation in the world to adopt Bitcoin (BTC) as legal tender in September 2021, El Salvador is returning to its days of buying BTC after a months-long hiatus amid bearish market conditions.
Salvadoran President Nayib Bukele announced on November 16 that the Central American nation would start buying BTC daily from November 17. The announcement comes nearly three months after the country made its last purchase of BTC in July 2022.
We're buying one #Bitcoin every day starting tomorrow.
— Nayib Bukele (@nayibbukele) November 17, 2022El Salvador started buying BTC in September 2021, just after making it legal tender. At the time, BTC was in the midst of a bull market and every purchase the nation made seemed lucrative as the price hit a new all-time high every two weeks. However, with the advent of the bear market in the second quarter of 2022, El Salvador's first BTC purchases began to look like a gamble with heavy losses.
According to public records, El Salvador currently holds 2,381 BTC at an average purchase price of $43,357. Thus, the country spent nearly $103.23 million on its purchase of BTC and the value of that same BTC currently stands at $39.4 million.
El Total El Salvador BTC Buying HistoryAnnouncement of a new BTC buying routine at a time when the major cryptocurrency is trading at a new cycle low could help ...
El Salvador currently holds 2,381 BTC with a total investment of $103 million, the value of their BTC investment has decreased to 39, $4 million in current market conditions.
New
As the first nation in the world to adopt Bitcoin (BTC) as legal tender in September 2021, El Salvador is returning to its days of buying BTC after a months-long hiatus amid bearish market conditions.
Salvadoran President Nayib Bukele announced on November 16 that the Central American nation would start buying BTC daily from November 17. The announcement comes nearly three months after the country made its last purchase of BTC in July 2022.
We're buying one #Bitcoin every day starting tomorrow.
— Nayib Bukele (@nayibbukele) November 17, 2022El Salvador started buying BTC in September 2021, just after making it legal tender. At the time, BTC was in the midst of a bull market and every purchase the nation made seemed lucrative as the price hit a new all-time high every two weeks. However, with the advent of the bear market in the second quarter of 2022, El Salvador's first BTC purchases began to look like a gamble with heavy losses.
According to public records, El Salvador currently holds 2,381 BTC at an average purchase price of $43,357. Thus, the country spent nearly $103.23 million on its purchase of BTC and the value of that same BTC currently stands at $39.4 million.
El Total El Salvador BTC Buying HistoryAnnouncement of a new BTC buying routine at a time when the major cryptocurrency is trading at a new cycle low could help ...
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