Nayib Bukele, President of El Salvador announces the country buying another 100 Bitcoin. Notably, this is worth about $5.4 million of $BTC, at today’s prices.
El Salvador Is HODLing
Furthermore, Nayib Bukele, the “CEO” of El Salvador, as in his bio recently announces the purchase in a tweet on Friday.
So, This means that the president is till very bullish about the top crypto asset despite market decline.
“El Salvador just bought the dip. 100 extra coins acquired with a discount,” as according to the tweet.
Recall, last month, the president records a much bigger purchase of 420 Bitcoin. This is after its dollar price descended into the lower sixty thousand range. Generally, the nation now holds more than 1000 Bitcoin.
Of course, popular anti-Bitcoin gold bug Peter Schiff isn’t happy and thereby responds to the tweet. Then, he says it’s “unfortunate” for Salvadorians and urges the nation to cut its losses and sell its Bitcoin.
As of now, El Salvador is not planning on selling any hold off, the main purpose is to HODL. Notably, just last month, it takes its profits to build a pet hospital.
Lastly, Bukele declares El Salvador’s intentions to build a “Bitcoin City”, with $1 billion fund from the “volcano bond”. More so, One-half of the funds is to buy Bitcoin, while the other half is for Bitcoin mining infrastructure investment, using the nation’s volcanic energy.