Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Tamsialu$$ on October 28, 2021, 08:05:28 AM
-
The Central American country now holds 1,120 BTC in its reserves. El Salvador adopted Bitcoin as legal tender on September 7. In the past two months, Bukele has ordered four BTC purchases for the country’s coffers. According to Disruptiva magazine’s estimates, El Salvador bought 200 BTC at $51,300 on September 6, then another batch of 200 BTC at $51,500. A day later, it purchased 150 BTC at $52,000, and finally, on September 19, El Salvador bought the dip, acquiring another 150 BTCat $45,700.
After racking up a portfolio at over $11 million in unrealized losses, the price of Bitcoin started to recover, reaching a new high. With this new purchase, Bukele has increased El Salvador's stated Bitcoin reserves to 1,120 BTC, at an average price of $53,324.29. With the price tag of Bitcoin at nearly $59,000, it’s made a tidy (though unrealized) return on its investment.more info (https://decrypt.co/84618/el-salvador-president-buys-dip-adds-420-bitcoin-treasury)
-
I am sure that many El Salvador citizens can be quite happy with the rise of Bitcoin and am hoping that they followed the move of their government to get more Bitcoin especially on the dips. Right now, there is more chance that Bitcoin is going to be going up the ladder into the $100K level and President Bukele must be so happy with their decision to adopt Bitcoin as a legal tender.
-
now the bitcoin price has reached $66K+ and finally the policies carried out by the leader of El Salvador are clearly very profitable for his country. at least the gains are visible now and will probably continue to grow with the improvements bitcoin will experience. because bitcoin is currently on the way to increase more than yesterday's ATH.
This is certainly a new breakthrough and can serve as a good example, although it is possible to do so, one must have more courage than the average state leader. because the decisions taken will certainly have the effect of being good or being bad.
but those who understand the crypto world clearly have no doubts about wanting to buy and store bitcoin, because in time it will increase as well.
whether this will make many countries will follow the example of El Salvador ? at least they will clearly want to acknowledge the existence of crypto and want to make things that are not prohibited.