El Salvador buys the dip

  • As the broader crypto market experienced a crash early last week, El Salvador’s President Nayib Bukele took advantage of the lower prices and purchased a further 150 bitcoin.
  • The Latin American country now owns a total of 700 bitcoin.
  • President Bukele made the announcement in a tweet, stating: “They can never beat you if you buy the dips,” before adding that this move can be considered “presidential advice.”
  • The Salvadoran government purchased its first 400 bitcoin on 6 September, one day before the country became the first in the world to accept cryptocurrency as legal tender.
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