The President of El Salvador confirmed that they added 150 Bitcoins. And now El Salvador holds a total 700 Bitcoins.
On 7 September, Bitcoin law of El Salvador launched official use for their citizens. After that the government of El Salvador bought Bitcoins two times for the roll out of Bitcoin law successfully.
As the crypto market crashed and the price of Bitcoin also dropped by 5.30% with trade price $54,601, at the time of writing this article, Nayib Bukele, president of El Salvador, announced on twitter that El Salvador bought 150 more coins.
Here this clearly shows that president Nayib Bukele is taking his action on Bitcoin buy carefully in the favour of the economy of El Salvador. Before this, in the last two crashes El Salvador bought coins. So El Salvador sees the crash as an opportunity. And we have to learn from El Salvador.
In the same tweet thread, Nayib Bukele stated that
“they can’t beat you, if you buy the dip and it is the president ‘s advice”.
So clearly here, El Salvador’s president is teaching their citizens, followers and the crypto community that we have to buy crypto in dip instead of pump, which is a basic fundamental rule of the crypto market.
Many random Twitter users of El Salvador appreciated the steps of Nayib Bukele and said that with the crash of the market, we can see hope. And another user also supported the move of Nayib and shared a screenshot of his Chivo Bitcoin wallet with $30.01, that he got as a free reward, as a part of rollout of Chivo wallet launch.