Leading cryptocurrency Bitcoin (BTC) Declaring it as its legitimate currency, El Salvador continues to receive Bitcoin.
El Salvador, which initially bought over 200 BTC, later gained a serious reputation thanks to the increasing Bitcoin price and was applauded for making the right investment.
Now, while the fall of the Bitcoin price scared everyone, it made El Salvador buy more.
El Salvador Receives More BTC
El Salvador’s president, Nayib Bukele, said in a statement on the subject that there was a long wait, but it was worth it. Bukele stated that they bought from the bottom and admitted that they added 420 BTC to their treasury.
El Salvador announced that it has received 420 Bitcoin.#Bitcoin
— Bitcoin System (@bitcoinsystem) October 27, 2021
It is not possible to audit a government wallet, and Bukele does not share transaction or wallet information.
Despite this, the investment already appears to be paying off. Just a few hours after his first tweet, Bukele shared the tweet that “we have started to earn from the BTCs we have already bought” and revealed that he was actually buying from the bottom.
It was a long wait, but worth it.
We just bought the bottom!
420 new #Bitcoin🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) October 27, 2021
El Salvador currently holds 1120 BTC and the situation is literally in El Salvador’s favour. People in El Salvador, on the other hand, are not very happy with the acceptance of Bitcoin and argue that it may not be wise to declare Bitcoin as a legal currency.
Anti-Bitcoin protests were also seen all over the country recently. Bukele, on the other hand, continues to receive more BTC.
Expressing that they were waiting for a decrease to buy new BTC before, El Salvador President Nayib Bukele seems to have experienced the decrease he expected since he made a purchase.