El Salvador buys the DIP, the country's BTC stock grows-News Bitcoin News
El Salvador buys the DIP, the country's BTC stock grows-News Bitcoin News
Bitcoin as a legal means of payment: El Salvador buys the DIP, the country's BTC supply" Loading = "Lazy">
Bitcoin is now a legal means of payment in El Salvador, and the country's Bitcoin stock has grown to 550 coins. The Salvadorian government started buying cryptocurrency on Monday before the Bitcoin law comes into force. On Tuesday, President Nayib Bukele said El Salvador bought the DIP.
El Salvador buys more Bitcoin
The Bitcoin law of El Salvador entered force on Tuesday, September 7th btc
el Salvador bought Bitcoin before the Bitcoin law comes into force. President Nayib Bukele announced on Monday that his government started buying Bitcoin. "El Salvador has just bought his first 200 coins. Our brokers will buy much more if the deadline is getting closer", he wrote . A few hours later he is tweeted : "El Salvador has just bought 200 new coins. We are now holding 400 Bitcoin."
The Bitcoin Prize rose before the Bitcoin law came into force. However, es immersed at 11:00 a.m. EST on September 7th, from over 51,000 USD falling to less than $ 43,000. At the time of writing, the price is around $ 46,883.
After the price had fallen, President Bukele tweeted : "Buy the dip."
The Salvadorian president followed at 11:25 a.m. EST with another tweet when the Bitcoin price stabilized at the level of $ 46,000. He wrote: "It seems that the discount ends. Thanks for the DIP @IMFNEWS. We saved a million of printed paper," added:
el Salvador now holds 550 Bitcoin.
The International Monetary Fund (IMF) has against this countries that introduce Bitcoin several times as legal means of payment. At the end of August, the legal advisors of the IMF said that cryptocurrencies such as Bitcoin were associated with "considerable risks" and not advisable as a legal means of payment.
September 7 had a bumpy start for El Salvador when users complained that the Bitcoin wallet app of the government, Chivo, was not available on various platforms, including Apple and Huawei. When the app was available on Huawei, she could not cope with the user registration, explained Bukele and added that the government had decided to separate it from the network in order to establish a connection to more servers and increase the capacity. The problem seemed to be solved at the time of writing.
What do you think that El Salvador buys the dip and enlarges his Bitcoin supply? Let us know in the comment area below.
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