- Oct 25, 2021
- Reaction score
El Salvador Buys the Dip: 1,220 Bitcoins Purchased to Date
El Salvador has taken advantage of the Friday sell-off and purchased 100 more bitcoins as reports of a new coronavirus variant spread. The Salvadoran president, Nayib Bukele, tweeted on Black Friday that his country has bought the dip. “100 extra coins acquired with a discount,” he wrote.
An advisory panel of the World Health Organization (WHO) on Friday classified the new Covid-19 variant, first detected in South Africa, as a highly transmissible virus, naming it “Omicron.”
The crypto market shed
El Salvador made bitcoin legal tender alongside the U.S. dollar on Sept. 7. At the time, the price of
Since bitcoin became legal tender, El Salvador has purchased 1,220
The day before the country’s bitcoin law went into effect, El Salvador purchased two sets of 200 bitcoins. It bought 150
Since then, El Salvador bought 420 more coins on Oct. 27, bringing the total purchase to
President Bukele announced last week a plan to build the world’s first “bitcoin city” powered by a volcano and financed by
However, a day after the announcement, the International Monetary Fund (IMF)
What do you think about El Salvador buying the dip amid crypto market sell-offs as a new Covid-19 strain emerged? Let us know in the comments section below.