TechBookyBusiness
No Result
View All Result
Wednesday, May 25, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Cryptocurrency

“They Can Never Beat You If You Buy The Dips”, El Salvador’s President Says After The Country’s Continued Bitcoin Purchase

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
September 20, 2021
in Cryptocurrency, Government
Share on FacebookShare on Twitter

El Salvador’s government might really be on a cryptocurrency-focused mission as the Central American country has added more Bitcoins to the tune of 150 Bitcoins, raising its total Bitcoin holdings to 700 Bitcoins. The country made the announcement of the purchase of the additional Bitcoins after the price of Bitcoin fell 5 percent to a low of about $45,000 in the Asian session.

El Salvador recently became the first country to adopt flagship cryptocurrency Bitcoin as a legal tender. Bitcoin which was trading above the $50,000 margin fell more than 10 percent, losing up to $9,000 in value on Bitcoin’s adoption. The country took the opportunity to buy the dip amidst the criticisms that it received from global financial bodies, financial experts, and citizens.

“They can never beat you if you buy the dips”, El Salvador’s President Nayib Bukele said as he announced the country’s new acquisition of 150 Bitcoins. The excited President took to his Twitter platform to announce the buy. “We just bought the dip. 150 new coins! El Salvador now holds 700 coins”, he said. He didn’t fail to encourage, more like insist, other countries to join El Salvador in acquiring Bitcoin as he ended his Twitter thread advising other presidencies to buy Bitcoin.

Presidential advice 🇸🇻

— Nayib Bukele (@nayibbukele) September 20, 2021

El Salvador has adopted Bitcoin as a legal tender for quite a number of reasons and these reasons have started to become apparent. El Salvador, through the President’s legal advisor – Javier Argueta, recently announced plans to exempt foreign investors from paying taxes on Bitcoin profits. This move, from all indications, is being made to bring foreign investments, and encourage local entrepreneurs and foreign investors to see the country as a viable ground to plant their businesses.

El Salvador’s Bitcoin-related decisions have been hugely criticized but its activities have led to other countries starting to warm up to Bitcoin and cryptocurrencies. Ukraine is looking to make Bitcoin legal, not adopt as a legal tender, in the country following El Salvador’s adoption. Other Central American countries are reportedly beginning to draft laws in favor of Bitcoin.

As of the time of drafting this article, Bitcoin was trading at $44,953.50.

Total
1
Shares
Share 1
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Microstrategy Seems To Be On A Mission As It Acquires 5,050 BTC Worth $242 Million
    Microstrategy Seems To Be On A Mission As It Acquires 5,050…
  • Bitcoin Has Yet Again Fallen Below The $45,000 Mark
    Bitcoin Has Yet Again Fallen Below The $45,000 Mark
  • The Price Of Bitcoin Falls Below $50k, Loses Up To $9,000 In Value And Tumbles More Than 10 Percent On El Salvador’s Adoption
    The Price Of Bitcoin Falls Below $50k, Loses Up To $9,000 In…
  • A Research Team At Standard Chartered Forecasts Bitcoin Reaching $100,000 By Early Next Year
    A Research Team At Standard Chartered Forecasts Bitcoin…
  • 2.1 Million El Salvador Citizens Are Actively Using Government-backed Bitcoin Wallet Chivo
    2.1 Million El Salvador Citizens Are Actively Using…
  • El Salvador Adds 500 BTC To Its Reserves As The Crypto Continues To Dip
    El Salvador Adds 500 BTC To Its Reserves As The Crypto…
  • El Salvador Is Looking To Exempt Foreign Investors From Paying Taxes On Bitcoin Profits
    El Salvador Is Looking To Exempt Foreign Investors From…
  • El Salvador Is Officially The First Country To Adopt Bitcoin As A Legal tender
    El Salvador Is Officially The First Country To Adopt Bitcoin…
Tags: bitcoincryptocurrencydipel Salvadorgovernment
Previous Post

Binance Faces Probe From US Regulator For Insider Trading And Market Manipulation

Next Post

Fintechs Could Be Banks’ Biggest Rivals In Years To Come, That’s If They Aren’t already

Next Post
Fintechs Could Be Banks’ Biggest Rivals In Years To Come, That’s If They Aren’t already

Fintechs Could Be Banks’ Biggest Rivals In Years To Come, That’s If They Aren’t already

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Russia Will Start Using Its Digital Rouble With Real Customers And Real Transactions From April 2023 In A Pilot Project
  • Esaal, An Egyptian Health And Wellness Platform Gets $1.7 Million To Scale Operations Across the MENA region
  • Could Biometric Technology Be The Answer To Digital Payments Security Concerns?
  • South Africa’s Edtech Startup FoondaMate Secures $2 Million In Seed Funding
  • US Cybersecurity Firm Semperis Gets $200 Million In Funding

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china company crypto cryptocurrency e-commerce E-Naira earnings earnings season elon musk facebook fintech Funding gadget google government india Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock Stocks tech tesla twitter Ukraine whatsapp

Calendar

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Russia Will Start Using Its Digital Rouble With Real Customers And Real Transactions From April 2023 In A Pilot Project
  • Esaal, An Egyptian Health And Wellness Platform Gets $1.7 Million To Scale Operations Across the MENA region
  • Could Biometric Technology Be The Answer To Digital Payments Security Concerns?
  • South Africa’s Edtech Startup FoondaMate Secures $2 Million In Seed Funding
  • US Cybersecurity Firm Semperis Gets $200 Million In Funding
  • Zoom Issues Better-than-expected First Quarter Earnings And Strong Guidance

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$29,803.000.72%
  • ethereumEthereum(ETH)$1,963.85-0.95%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$328.28-0.33%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • rippleXRP(XRP)$0.407166-0.51%
  • Binance USDBinance USD(BUSD)$1.00-0.13%
  • cardanoCardano(ADA)$0.52-0.66%
  • SolanaSolana(SOL)$48.52-2.23%
  • polkadotPolkadot(DOT)$9.98-1.91%
  • dogecoinDogecoin(DOGE)$0.0834690.20%
  • AvalancheAvalanche(AVAX)$27.55-4.82%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.03%
  • matic-networkPolygon(MATIC)$0.65-1.76%
  • TerraTerra(LUNA)$0.00018616.52%
Posting....