El Salvador to start buying Bitcoin every day from tomorrow
The collapse of multiple projects and the market crash made investors dubious of pouring their funds into the crypto-verse. While speculations of Bitcoin being dead begun surfacing, a major Bitcoin bull did not lose hope. El Salvador shocked the entire globe by accommodating BTC as a legal tender. Despite the asset’s plummet below $16K, El Salvador was looking to expand its holdings. In a recent tweet, El Salvador ’s President Nayib Bukele announced that the government would start purchasing one BTC every day. We are buying one #Bitcoin every day start ing tomorrow . — Nayib Bukele (@nayibbukele) November 17, 2022 Bitcoin survived Covid-19 as well as the infamous de-pegging of TerraUSD. However, the FTX collapse caused havoc in the market pushing the king coin to a two-year low. 6.5 million Salvadorans, who trusted their President with pouring public finances into Bitcoin grew wary. As per Ricardo Castaneda, an economist at the Central American Institu...