, the price of bitcoin dipped to about $36,630 at 4:54 p.m. before Bukele’s tweet at 5:18 p.m. It continued to decline throughout the evening.
The Jan. 21 tweet was in response to an older one from Jan. 14, where the president had written “I think I might have miss[ed] the dip this time.” But he started this most recent update by saying “Nope, I was wrong, didn’t miss it." Most of what we know about the quantity and timing of El Salvador’s bitcoin purchases comes from Bukele’s tweets, in which he often mentions that the country had just “bought the dip.” That phrase refers to a strategy of purchasing bitcoin at a “discount” when it significantly decreases in value, which in theory would create gains for the buyer when the price eventually rises again.
El Salvador has now bought at least 1,801 bitcoins, based on what we know about the country’s purchase history. Before the latest tweet, El Salvador had amassed 1,391 bitcoin according to Bukele’s announcements. In a January 12 news , Bloomberg calculated that Bukele’s announced purchases up to that time would have cost El Salvador $71 million.Dec. 21, 2021 -
What a man! I bought some too on Bitfinex, hope to gather the full coin this year.
El Salvador about to become the first ever 4th world country.
🚀🚀🚀
The bottom is in for Bitcoin
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