El Salvador ‘Buys The Bitcoin Dip’, Splashes Over $15 Million On Fresh BTC Purchase

"The Best Time To Buy Is When Things Go Down," Says New York Mayor Eric Adams On Bitcoin Dip

El Salvador puts its foot on the pedal to increase the size of its BTC holdings. The latest acquisition means the country has purchased over 2000 BTC.

The Dip Is The Signal To Buy

El Salvador’s President, Nayib Bukele took to Twitter to announce the country’s latest Bitcoin purchase. The purchase saw 500 BTC added to the pioneering country’s stash amid a fall in asset prices. At the time of the announcement, Bitcoin was trading at around the $30.7K mark, meaning the value of the buy hovers around $15.3 million.

The purchase is coming on the heels of a decline in prices as Bitcoin fell below $33,000 to the lowest level since July 2021. Buying the dip is El Salvador’s modus operandi with the country seizing previous dips to beef up its BTC plans. The country opened its account by purchasing 700 BTC in installments within 2 weeks of its adoption of the asset as legal tender with the President taking to Twitter to thank the IMF for the dip in prices.


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

Ethereum Price is about to crash further if THIS happens!

The crypto market is still consolidating after the crypto crash. In the last couple of days, many day traders took advantage of this consolidation and bought cryptos in their respective support areas. For Ethereum, traders worry that prices risk crashing and slipping below the current support area. Will Ethereum crash down or will Ethereum rebound

Monero Is Preparing for a Bull Run; Should You Buy XMR Now?

Monero is a decentralized cryptocurrency that mainly focuses on anonymity during transactions. It has three parts- Ring Signature, RingCT, and Stealth address. The Ring Signature hides the sender, RingCT hides the amount, and the Stealth address makes the receiver anonymous. XMR is the native coin of this network, which is used during the transaction. First,

SEC Files an Extension: How Will It Impact the Price of XRP?

Ripple is a decentralized digital payment platform that runs on RippleNet. Most large cryptocurrencies face issues regarding scalability and slow transactions. Ripple comes with the solution by providing a real-time gross settlement system. It enables transactions to any digital coins. It was created to make the decentralized financial transaction scalable and affordable.  After the US

Illuvium Expands Its Chainlink Integration With Price Feeds

Illuvium recently announced an expansion to its Chainlink Integration by including Price Feeds. With the integration, Illuvium will help users accurately price digital lands whether they are transacting in ETH or sILV2. The land is an integral component of Illuvium Zero. Customers who possess land can create valuable tokens and fuel, and the ERC 20