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

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

Author: Jordan Lyanchev

Last Updated Sep 20, 2021 @ 07:12

El Salvador continues with its bitcoin accumulation by purchasing another set of 150 coins.

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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 “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.
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Tags: Bitcoin Bitcoin (BTC) Price El Salvador
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About The Author

Jordan Lyanchev
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Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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