El Salvador took advantage of this crash and grabbed a total of 410 Bitcoins at a $36k price.
El Salvador is the first country which adopted Bitcoin as legal tender. This country is continuously buying Bitcoins in almost every crypto market crash. However, the country is facing huge criticism because of its decision to adopt Bitcoin as Currency but still, government authorities of El Salvador are doing their best to bring the use of Bitcoin-related opportunities for their citizens.
On 20 January, Nayib Bukele, president of El Salvador, confirmed on Twitter that country successfully bought 410BTC in the dip.
Nayib quoted his previous tweet, where he expected that he missed the chance to buy Bitcoin in dip. But finally, at a lower price, Mr president is happy to grab Bitcoins cheaply.
After 7 September, El Salvador accumulated a total of 1,801 Bitcoin. The recent buy of Bitcoin by El Salvador is most cheapest price because this is the first time when the price touches the biggest low after September.
The Crypto market getting positive support
The Crypto market is facing correction since the last week of December 2021. Within less than 1 month, the market faced multiple corrections. This thing is showing a very critical situation for this crypto industry, this year.
It was very common for this crypto industry to see big Bitcoin buyers in crashes. But in recent corrections, Bitcoin proponents didn’t buy Bitcoin.
But here latest buy of Bitcoin by El Salvador will surely give buy support to this crypto industry.
At the time of writing this article, the price of bitcoin is $36,231. And this price is 6.84% low over the last 24 hours. While it is 40% low over last 3 months.