El Salvador stacks 150 Bitcoin after BTC price crashes below $50k
With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing. The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value.El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670 #Bitcoin— Nayib Bukele (@nayibbukele)....
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Volatility returned to the cryptocurrency market in a ‘buy the rumor, sell the fact’ scenario for Bitcoin. El Salvador appears unfazed as President Nayib Bukele bought the dip. Bitcoin (BTC) holders took profits on Tuesday, just as El Salvador moved to recognize the digital currency as legal tender in a landmark move that could have significant implications for global adoption. After hitting local highs north of $52,800 on Monday, the Bitcoin price plunged all the way to $42,900 in early Tuesday trading, according to Cointelegraph Markets Pro. Peak to trough, the flagship cryptocurrency....