El Salvador’s president Nayib Bukele, accompanied by US Ambassador to El Salvador Ronald Johnson (out of frame), speaks during a joint press conference at Rosales Hospital in San Salvador on May 26, 2020. – Bukele clarified on Tuesday that the country bought hydroxychloroquine for a little more than a half million dollars and not for 575 million dollars, as he previously said on a radio station. (Photo by Yuri CORTEZ / AFP) (Photo by YURI CORTEZ/AFP via Getty Images)
“They can never beat you if you buy the dips,” said the President of El Salvador, Nayib Bukele, as he announced that his country has “bought the dip” to the tune of 150 BTC. This puts El Salvador’s total BTC holdings at 700 BTC.
President Bukele announced on his Twitter platform that his country bought the dip stating, “We just bought the dip. 150 new coins! El Salvador now holds 700 coins.”
This announcement comes after Bitcoin dropped to a low of $45,000 in the Asian session which represents a 5% decline.
The President of El Salvador ended his Twitter trend by stating, “Presidential advice,” suggesting that he advises others to buy the dip as his country has just done.
Bitcoin seems to be on the recovery towards the start of the London session as BTC is currently trading $45,770.
Crypto twitter community are happy with the move by the El Salvador President with the bold step of adopting Bitcoin as a medium of exchange and advice other third world country to adopt and benefit from the crypto and Blockchain technology.