Bukele and Justin Sun, CEO of Tron, announce that they will take advantage of the price of Bitcoin to buy one a day.
The implosion of FTX and its investment arm, Alameda Research, has caused a shockwave affecting the entire cryptocurrency market. On the one hand, some platforms, such as the blockf or Genesis, Gemini's lending arm, have been forced to pause withdrawals from its customers, and on the other hand, the prices of the main cryptocurrencies have fallen to historic lows.
As often happens in these cases, where some perceive a crisis, others find an opportunity. Institutions have been the first to take advantage of the fall in prices and now it has been Nayib Bukele, president of El Salvador, who has shown himself willing to buy the dep.
Bukele announced yesterday on Twitter that he is willing to buy a Bitcoin every day, starting today Thursday, taking advantage of the low cryptocurrency prices.
Shortly after this announcement, Justin Sun, CEO of Tron, posted another tweet in which he announced that he was willing to Copy Bukele's accumulation strategy and that I would also buy one Bitcoin every day.
In this way, Nayib Bukele reinforces his strategy of Bitcoin accumulation and addresses unfounded rumors that its holdings were frozen in FTX.
The complex relationship between Bitcoin and El Salvador
At such a complicated time for the cryptocurrency industry, El Salvador celebrates the first anniversary of its Bitcoin Law. The pioneering regulation in the world, which turned crypto into legal tender in the country, is already a year old and has been through good and bad times.
On the one hand, the country's leaders point to the success of the initiative, with a Increase in income and tourism revenuesHowever, part of the population is not happy with the implementation of this law, as they consider that it negatively affects people's purchasing power.
Whatever the case, the Central American country has already accumulated 2.381 Bitcoin, although due to the fall in the price of the cryptocurrency (almost 80% from its historical maximum), on paper El Salvador's investments are in the negative.
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