President Bukele reveals El Salvador will buy 1 Bitcoin daily

President Nayib Bukele announced that El Salvador would purchase 1 Bitcoin (BTC) each day beginning November 18.

The current bear market doesn’t seem to have deterred President Bukele’s curiosity within the flagship digital asset. Underneath Bukele, El Salvador grew to become the primary nation to make BTC a authorized tender and the primary sovereign state to buy the cryptocurrency.

President Bukele had beforehand predicted that Bitcoin’s worth might attain $100,000.

El Salvador’s final Bitcoin purchase was on June 30, 2022. Then, the nation purchased 80 Bitcoin at a median value of $19,000. Cumulatively, the federal government has spent over $100 million to accumulate a complete of two,381 BTC –the present bear market circumstances have dropped the asset’s worth to lower than $40 million.

In the meantime, the Central American nation was briefly within the information just lately after rumors emerged that it saved its Bitcoin on the bankrupt crypto change FTX. Binance CEO Changpeng Zhao labeled this misinformation as President Bukele informed him that the nation doesn’t have any Bitcoin on FTX and “by no means had any enterprise with them.”

President Bukele described BTC as the alternative of FTX and likened the struggling change to a Ponzi scheme.

The founding father of TRON Community, Justin Solar, expressed willingness to repeat President Bukele’s 1 BTC per day buy.

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