The country of El Salvador, which has made a big impact all over the world by declaring Bitcoin as the legal currency, continues its BTC purchases.
El Salvador President Nayib Bukele, who saw every drop in Bitcoin as an opportunity, announced that they had bought 150 BTC at $ 48,670 in his post on his twitter account.
In the past days, with the newly released Omicron variant of Covid-19 and the effect of Black Friday, Bitcoin and cryptocurrencies lost approximately 15% in value.
After these declines, Bitcoin and the markets started to recover that the crypto money markets experienced another sharp fall last night and morning.
Although the reason for this decrease is not known exactly, the Omicron variant is thought to be effective.
After Bitcoin shed over 15% in market cap, El Salvador announced that it was buying BTC.
However, after Bukele announced his BTC purchase, Bitcoin depreciated even more and fell to the level of $ 42,000. Regarding this drop, Bukele said, “I missed the bottom by 7 minutes.”
Missed the f***ing bottom by 7 minutes 😂
— Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
Under Bukele’s post, anti-Bitcoin Peter Schiff commented, “We’re going to see more bottoms, how much more money do you intend to waste.”
His son Spencer Schiff, who does not agree with his father and therefore often confronts him about this issue, supported El Salvador’s BTC purchase by saying, “My father’s answer is your signal to buy more.”
@nayibbukele, my dad’s reply is your signal to buy more.
— Spencer Schiff (@SpencerKSchiff) December 4, 2021
Turning every drop in Bitcoin into an opportunity, El Salvador has 1370 Bitcoins with its last purchase.
*Not investment advice.