{"id":14986,"date":"2021-12-04T17:54:04","date_gmt":"2021-12-04T17:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/crypto-flash-crash-prompts-el-salvador-to-buy-the-dip-150-bitcoins-added-to-treasury\/"},"modified":"2021-12-04T17:54:04","modified_gmt":"2021-12-04T17:54:04","slug":"crypto-flash-crash-prompts-el-salvador-to-buy-the-dip-150-bitcoins-added-to-treasury","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/crypto-flash-crash-prompts-el-salvador-to-buy-the-dip-150-bitcoins-added-to-treasury\/","title":{"rendered":"Crypto Flash Crash Prompts El Salvador to Buy the Dip \u2014 150 Bitcoins Added to Treasury"},"content":{"rendered":"

As the crypto market shed billions of dollars, El Salvador bought the dip, taking advantage of the falling price of bitcoin early Saturday morning. With the latest buy, El Salvador has purchased a total of 1,370 bitcoins altogether. According to Salvadoran president Nayib Bukele, the coins were bought seven minutes before the price of the cryptocurrency bottomed out.<\/strong><\/p>\n

El Salvador Buys the Dip: 150 Bitcoins Added to Treasury<\/h2>\n

The price of many cryptocurrencies began plummeting late Friday night, with bitcoin sliding almost 14% from slightly above $52K at 11:42 p.m. EDT to below $45K at 12:28 a.m. based on data from Bitcoin.com Markets. At the time of writing, the price of BTC<\/a> is hovering around $48,040.<\/p>\n

Taking advantage of the falling price of bitcoin, El Salvador\u2019s president, Nayib Bukele, tweeted at 12:19 a.m. about his country\u2019s latest BTC<\/a> purchase. \u201cEl Salvador just bought the dip! 150 coins at an average USD price of ~$48,670.\u201d He followed up with another tweet a few minutes later: \u201cMissed the f***ing bottom by 7 minutes.\u201d<\/p>\n<\/p>\n

El Salvador has taken advantage of bitcoin\u2019s price dips several times. On Nov. 26, Bukele revealed<\/a> that his country bought 100 more BTC<\/a> as the price of the cryptocurrency dropped following reports of a new Covid-19 variant, now known as omicron.<\/p>\n

Bitcoin was made legal tender in El Salvador alongside the U.S. dollar in September. Since then, El Salvador has purchased 1,370 BTC<\/a> altogether.<\/p>\n

Last week, the International Monetary Fund (IMF) warned<\/a> the country against using bitcoin as legal tender. The governor of the Bank of England, Andrew Bailey, similarly cautioned<\/a> that he is worried about El Salvador making bitcoin a national currency. Bukele responded to the boss of the British central bank by stating, \u201cI\u2019m really concerned about Bank of England printing money out of thin air.\u201d<\/p>\n

What do you think about El Salvador buying the dip again? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nMarkets and Prices, bitcoin buy, bitcoin crash, bitcoin holdings, Bitcoin Stash, buy the dip, buy the dip bitcoin, crypto buy, crypto flash crash, crypto market crash, crypto price crash, cryptocurrency crash, El Salvador, el salvador buys bitcoin, IMF, Nayib Bukele<\/p>\n","protected":false},"excerpt":{"rendered":"

As the crypto market shed billions of dollars, El Salvador bought the dip, taking advantage of the falling price of bitcoin early Saturday morning. With the latest buy, El Salvador has purchased a total of 1,370 bitcoins altogether. According to Salvadoran president Nayib Bukele, the coins were bought seven minutes before the price of the…<\/p>\n","protected":false},"author":0,"featured_media":14987,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14986"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14986"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14987"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}