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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 âbuy the dipâ moment, as BTCâs price dropped to $45,000.
- El Salvadorâs president â Nayib Bukele â took it to Twitter on September 20th to inform that the nation has âbought the dipâ 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 Salvadorâs borders, the country made the initial purchase of 200 BTC.
- Upon announcing the news today, president Bukele added, âthey can never beat you if you buy the dips,â and that this was âpresidential advice.â
- 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, Bukeleâs legal advisor, Javier Argueta, suggested that foreign investors will not have to pay taxes on any profits connected to bitcoin.
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