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Tuesday, November 29, 2022
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Bitcoin Price To See Relief? El Salvador’s Bukele Promises To Buy 1 BTC Every Day By Benzinga


© Reuters. Bitcoin Price To See Relief? El Salvador’s Bukele Promises To Buy 1 BTC Every Day

Benzinga – Nayib Bukele, the president of El Salvador, on Twitter introduced shopping for one (CRYPTO: BTC) every day beginning Nov.18. This comes at a time when FTX (CRYPTO: FTT) collapsed fanning fears about the way forward for the cryptocurrency business.

What Happened: Bukele is a staunch supporter of Bitcoin. The Central American nation of 6.5 million residents turned the primary nation on the earth to just accept Bitcoin as a authorized tender final yr.

We are shopping for one #Bitcoin every single day beginning tomorrow.

— Nayib Bukele (@nayibbukele) November 17, 2022

Bukele has been repeatedly shopping for BTCs regardless of the bearish market. According to the Nayib Bukele Portfolio tracker, El Salvador at present owns 2,381 Bitcoins.

The final buy was on Jul. 1 when Bukele added 80 BTC to the nation’s portfolio.

El Salvador’s central financial institution has bought practically $394 million price of Bitcoin. Bukele additionally proclaimed he would construct a Bitcoin City, which might function a global hub for Bitcoin buyers.

Price Action: BTC is buying and selling at $16,587, down 1.73% within the final 24 hours, in keeping with Benzinga Pro.

Read Next: After FTX Crash, Stablecoin Exodus? , USDC See Heavy Exchange Outflows — But This One Remains Unscathed

Photo by Gobierno Danilo Medina on Flickr

© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

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