El Salvador President Nayib Bukele said that they will buy one Bitcoin (BTC) every day from tomorrow.
South America’s smallest country, El Salvador, took the agenda by storm when it announced that it would make Bitcoin a legal currency in 2021. However, due to the volatile nature of the crypto space, the El Salvador government suffered serious losses as the BTC price dropped. President of the country Nayib Bukele, on the other hand, does not give up his love for BTC despite everything.
El Salvador Continues to Buy Bitcoin
Eight major Bitcoin purchases were made in El Salvador between September and December 2021. The average Bitcoin inflow was around $55,000. The streak ended when Bitcoin suddenly crashed into the $30,000 price range.
Nayib Bukele, in a post on Twitter, announced that they will buy one BTC every day starting tomorrow.
We are buying one #Bitcoin every day starting tomorrow.
— Nayib Bukele (@nayibbukele) November 17, 2022
The country became the first in the world to adopt Bitcoin as a legal currency in 2021. Although the value of the crypto asset has plummeted since then, Chairman Nayib Bukele continues to support the use of Bitcoin.
As of writing, CoinGecko data shows that Bitcoin is trading at $16,606.
