The president of El Salvador was not scared about the price crash. Instead of complaining, he bought more Bitcoin.
- In a tweet, Nayib Bukele posted that he bought the dip. Buying the dip is a concept that refers to capitalizing on a bear market to purchase a cheap asset during the crash, anticipating profit after the price recovers.
- The president of El Salvador bought 420 additional Bitcoin, a meme figure associated with the marijuana community.
- There is no way to examine the government wallet, and Bukele gave few details on the TXID of the transaction. But the investment seems to be already paying off.
- Today, El Salvador now owns 1120 BTC, irrespective of all the controversies.
- Despite his authoritarian practices, Nayib Bukele is possibly the most beloved President by the Bitcoin community.
Meanwhile, 70% of the people in El Salvador are not happy about the concept of adopting Bitcoin, describing the Bitcoin Law as “not wise.”
BTC USD up +4.10%