Bought The Dip: El Salvador Purchased Another 150 BTC as Bitcoin Dipped to $45K

The first nation to legally adopt bitcoin now owns 700 coins after a new purchase, updated the president of the country. This has become another “buy the dip” moment, as BTC’s price dropped to $45,000.

  • El Salvador’s president – Nayib Bukele – took it to Twitter on September 20th to inform that the nation has “bought the dip” by accumulating 150 new bitcoins.
  • El Salvador has apparently taken advantage of the lower prices as BTC dipped from over $48,000 yesterday to just above $45,000 today.
  • The latest buy comes after a few previous ones, with the first taking place on September 6th. On that day, just before bitcoin became a legal tender within El Salvador’s borders, the country made the initial purchase of 200 BTC.
  • Upon announcing the news today, president Bukele added, “they can never beat you if you buy the dips,” and that this was “presidential advice.”
  • As mentioned above, El Salvador legalized the primary cryptocurrency on September 7th; thus, becoming the first-ever nation to do so, although several others have dabbled with the same idea since.
  • To boost further adoption and investments, El Salvador further provided some benefits for those aiming to use the cryptocurrency.
  • Foreigners can buy citizenship for 3 BTC. Additionally, Bukele’s legal advisor, Javier Argueta, suggested that foreign investors will not have to pay taxes on any profits connected to bitcoin.