The general crypto market decline today brings panic for traders, but not for El Salvador President Nayib Bukele. Of course, President Bukele announces on Twitter that the small Central American nation acquires 150 more BTC. Of course, this is at an average price of $48,670 during the recent market crash.
This Saturday, the crypto market crash sees the valuation of top cryptocurrencies fall in double digits. Whereby, the market cap declines to about 20%. Which of course, it’s a buying opportunity for President Bukele. More so, Bitcoin (BTC) drops to a 2-month low of $42.848 and its market cap below $1 trillion. Meanwhile, Ethereum (ETH) also declines to a monthly low below $4,000.
“El Salvador just bought the dip! 🇸🇻”
“150 coins at an average USD price of ~$48,670 🥳#Bitcoin🎄” — President Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
Furthermore, El Salvador is not slowing down on its tradition to buy the Bitcoin Dips. So, it is the first country to make BTC a legal tender in September. More so, The nation is making a series of 150 BTC purchases since September and President Bukele is always buying the dip. However, he only missed this time by around seven minutes as the BTC price declines to $42,874 briefly before recovering above $47,000.
“Missed the f***ing bottom by 7 minutes 😂” — President Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
Furthermore, El Salvador bought its first dip in September when BTC price was under $40K. Of course, that’s giving deaf ears to all the Criticisms on the President about market volatility. However, President Bukele continues buying the market bottom and almost doubling the investment in October as BTC hit $69K. Currently, El Salvador is now using the Bitcoin profit to make schools and hospitals.
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