El Salvador President Wants More Discount to Buy Bitcoin

With the price falling in Bitcoin, El Salvador’s president announced to buy Bitcoin but with a better discount.
El Salvador President Wants More Discount to Buy Bitcoin

In Brief: 

  • The president of El Salvador Nayib Bukele wants to purchase bitcoin dip.
  • El Salvadoer right now holds 700 Bitcoins.

The president of El Salvador, Nayib Bukele, wants to purchase a bitcoin dip. However, he thinks that the correction in bitcoin is too small and might require a better discount to make the purchase.

Over the past 24 hours, the price of Bitcoin recorded a little bit of change, falling to a daily $60,122. The price fall is an opportunity for the buyers. 

El Salvador has become the first country in the world to approve bitcoin as an official currency alongside USD. The American nation started purchasing BTC when the law of making bitcoin legal tender went into effect. On Sept 7, El Salvador announced that it holds 550 BTC after considering it as a legal tender. Nayib Bukele announced the purchase of Bitcoin via Twitter saying “Buying the Dip”. They made a total of 700 BTC purchases with the time.

While $BTC made a new all-time-high(ATH), El Salvador’s Bitcoin holding must get millions of profit. The profit is highly utilized for building hospitals and other national projects. The president also shared a photo of himself sitting on the throne representing the king after BTC ATH.

Bank of America believes that El Salvador can benefit greatly with its latest decision to BTC. El Salvador also launched “Chivo” bitcoin wallet to adopt BTC and to convert payments into dollars.

The country mined the first bitcoin using volcanic energy. In a short video, the president featured BTC mining rigs operating at a thermal power plant. The country’s new bitcoin mining initiative is the first crypt project to use natural resources.

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