El Salvador bought 150 more BTC when the price dropped to $ 45,000: analysis

El Salvador bought another 150 BTC when the price fell to $ 45,000 and the country continued to amass bitcoin despite ongoing protests against bitcoin as legal tender. So read more on our latest bitcoin news.

El Salvador was the first country to legally accept Bitcoin and now owns 700 coins after the new purchase updated the country’s president and became another “buy time” when the price of BTC fell to $ 45,000. Naybik Bukele, the president of El Salvador, announced on Twitter that the country has fallen in price as 150 new BTC accumulates. El Salvador took advantage of the low prices as BTC fell from over $ 48,000 to just over $ 45,000 today. The most recent purchase follows the previous ones, with the first being in September, and on that day before BTC became legal tender in the country, the country made an initial purchase of 200 BTC. Before announcing the news, President Bukele added that if you buy discounts, no one can beat you and that is his own president’s advice.

El Salvador legalized the main cryptocurrency in early September and was the first country to do so, but several others started adopting the same idea long ago. To further drive adoption and investment, El Salvador has a number of perks for those looking to use crypto, but expats can now purchase citizenship for 3 BTC. Bukele’s legal advisor Javier Argueta suggests that foreign investors should not have to pay taxes on BTC-related profits.

El Salvador authorities are also working on building the infrastructure to support the new BTC law, including setting up a $ 150 million BTC trust fund to facilitate BTC-US dollar exchanges in the near future . The law was passed by a majority by the El Salvador legislature, with 62 members voting for the bill and 19 members against with 3 abstentions. However, contrary to the law, Bukele confirmed that the use of BTC as legal tender is not mandatory. Bukele promises the move will benefit the people and save the country up to $ 400 million in referral commissions, which will enable faster and safer financial transactions. People in the country seem to disagree, however, as massive anti-BTC protests fill the streets.

.