Despite the fact that in recent weeks Nayik Bukele was criticized for his management regarding the investments that his government had been making in Bitcoin, the president of El Salvador announced days ago that they had made the purchase of 80 bitcoin at an average price of 19,000 USD.
El Salvador bought today 80 #BTC at $19,000 each!#bitcoin is the future!
Thank you for selling cheap 😉 pic.twitter.com/ZHwr0Ln1Ze
– Nayib Bukele (@nayibbukele) July 1, 2022
This announced that the president himself made it known through his Twitter account becomes another of the purchases announced by Bukele in the midst of a bear market, which According to the Bitcoin Fear and Greed Index, it was at 11% by then and as of today it has already positioned itself at 18% with the price hovering around 20,000 USD per BTC.
Bitcoin Fear and Greed Index is 18 ~ Extreme Fear
Current price: $20,071 pic.twitter.com/jPzbGJEVHj— Bitcoin Fear and Greed Index (@BitcoinFear) July 6, 2022
In this sense, it should be noted that despite the fact that many of the purchases made by the president’s government, and that were announced by him, are at a loss, it is not something that would be worrying the Salvadoran president at the moment since weeks ago he indicated on his twitter that patience was the key and after the bear market would be when the gains would be seen.
“I see that some people are worried or anxious about the price of Bitcoin in the market. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will grow a lot after the bear market. Patience is the key”Nayib Bukele pointed out through Twitter.
Likewise, it should be noted that the purchase of Bitcoin made by El Salvador was 500 bitcoin at an average price of USD 30,744 per BTC. In addition, the nation would be developing green energy infrastructures to promote Bitcoin mining within its national territory.
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