Bitcoin (BTC) El Salvador, which managed to occupy the agenda for months by declaring it as the official currency, announced that it made a new purchase of Bitcoin when the market fell.
El Salvador’s president, Nayib Bukele, who first announced his previous purchases on Twitter, did not break the tradition this time.
El Salvador Bought 500 Bitcoin!
Bukele explained that his country bought 500 Bitcoins at an average of $30,744.
El Salvador just bought the bottom! 🇸🇻
500 coins at an average USD price of ~$30,744 🥳#Bitcoin
— Nayib Bukele (@nayibbukele) May 9, 2022
Some users think that El Salvador bought BTC at the bottom price with a smart investment. Bukele also claimed in his message that “El Salvador is buying from the bottom”.
BTC Price Dropped With FED Effect
As it is known, BTC price is almost in free fall right now.
Last week, after the Fed’s 50 basis points increase in interest rates, the world’s largest rally, which made a small rally for the first time, reached over $ 40,000. cryptocurrencythen fell to $ 30,000 with the sudden selling wave.
The decline in the altcoin market was even more serious. Terra (LUNA), which recently bought a large amount of BTC, has become the biggest loser in the crypto market, losing nearly 30% in the last 24 hours after the fall in the price of BTC and its stablecoin UST dipping below $1.
Second among the losers was the Shiba Inu (SHIB), down 21%. Another meme token Dogecoin (DOGE) has lost 14% in the last 24 hours.
*Not investment advice.