Fr. Jun 14th, 2024

Dips are for buying, don’t take our word for it, that’s some solid presidential advice. In a mere 3 days, Bitcoin lost 5,000 euros in value. A small, perfect dip if you were waiting for a buying opportunity.

Apparently El Salvador was one of those waiting on the sidelines. The President let the world know they are stacking sats again.

They can’t beat you if you buy the dip

El Salvador’s president, Nayib Bukele, announced that the Latin American country had purchased 150 additional Bitcoin when prices fell this week.

“They can never beat you if you buy the dips,” Bukele tweeted, adding that his suggestion can be considered “presidential advice.”

His country now holds an advantage of 700 Bitcoin over any other country in the world. Against the current bitcoin price, those coins are now worth around 25.9 million euros.

Bukele’s government purchased its first 400 Bitcoin on September 6, the day before El Salvador became the first country in the world to formally recognize BTC as legal tender.

As El Salvador’s Bitcoin buying spree continues, the government is reportedly facing an investigation into its Bitcoin purchases and installation of crypto ATMs.

El Salvador’s Court of Accounts, the organisation that oversees public spending, received a complaint from a human rights group. They expressed concerns over the government’s financing of Bitcoin purchases.

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