President of El Salvador Nayib Bukele In his statement on Twitter, the country’s last bitcoin reported that it made a purchase on the decline. El Salvador has added 100 more Bitcoins to its BTC portfolio.
El Salvador just bought the bottom.
100 extra coins acquired with a discount 🥳#Bitcoin 🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) November 26, 2021
In early September, El Salvador made history as the first country to adopt Bitcoin as its official currency. with the US dollar bitcoinmaking it the national currency El SalvadorBitcoin tries to turn its drops into opportunities. In late October, El Salvador had purchased another 420 Bitcoins, worth about $26 million.
In addition to these, many responses came to Bukele’s post. While the cryptocurrency community has welcomed the development, there are those who are uncomfortable with the transaction. Chief among these is Bitcoin critic Peter Schiff. Schiff is well-known in the cryptocurrency community for his ability to get involved when it comes to Bitcoin. In response to the post of Bitcoin critic Bukele, he said:
“This (development) is unfortunate for the people of El Salvador. I wonder how many more times they will bottom out before they stop their failed business?”