Investors are taking advantage of the current cheap asset sales by bitcoin (BTC) owners to bolster the liquidity of their digital currency. The president of El Salvador, Nayib Bukele, disclosed that the nation purchased 80 BTC for a price per unit of $19,000.
El Salvador follows as Bitcoin falls
Undoubtedly, Bitcoin has captured the president of El Salvador’s heart. Nayib Bukele revealed yesterday that El Salvador had received an additional 80 BTC in a tweet. In fact, once the price plummeted sharply from 21,000 to 19,000 dollars in a matter of hours, the nation put a number of buy orders to acquire it.
- “Bitcoin is the future! Thank you for selling at low prices! reads Bukele’s tweet, which conceals a hint of sarcasm .
El Salvador bought today 80 #BTC at $19,000 each!#Bitcoin is the future!
— Nayib Bukele (@nayibbukele) July 1, 2022
Thank you for selling cheap 😉 pic.twitter.com/ZHwr0Ln1Ze
The president of El Salvador has claimed on social media that his country currently holds about 2,381 bitcoins. The country’s authorities do not, however, formally reveal this number.
The tourism industry has also boomed since bitcoin was accepted as legal tender in El Salvador. Indeed, the nation has emerged as a favourite travel destination for Bitcoin aficionados who are interested in learning more about how the currency is used in the area on a daily basis. It is also viewed as a favorable spot to deploy swiftly without encountering too many governmental restrictions by many crypto events and business owners.
Some experts claim that the growth of tourism alone may be sufficient to increase the nation’s cryptocurrency reserves. El Salvador also stands to benefit greatly from the jobs and revenues that will be created by the startups who locate there.
