September 30, 2022

El Salvador President Sees Opportunity Amid Market Crash, Adds 150 BTC Units

2 min read

El SalavadorEl Salavador

Today marks a historical day in the digital currency world as a sovereign nation, El Salvador officially launched Bitcoin(BTC )as its legal tender, 2nd just to the United States Dollar. The build-up to the event had a huge impact on the price of Bitcoin which soared to a weekly high of $52,853.76. Amongst all things, the adoption of Bitcoin as a legal tender is a warranty that as much as 6.5 million will constantly require cryptocurrency.

A massive twist was ushered into the market as the broad crypto experienced a flash crash, stirring the plunge of a number of digital currencies to their weekly lows. Bitcoin took a dive from its daily high of $52,853.76 to a low of $43,285.21. The bear action came so unexpectedly, in an unprecedented way, however, many individuals made the most of the crypto market dip, one of them being President Nayib Bukele of El Salvador.

The President announced on his Twitter account that he was “buying the dip” with the addition of 150 brand-new Bitcoin systems.