While Bitcoin plunged to the level of $30,000, Central America’s El Salvador plans to buy additional cryptocurrency Bitcoin.
El Salvador President Naive Buckele said on Twitter local time, “El Salvador has just bought a low-priced purchase,” adding that he bought 500 Bitcoin for an average unit price of $37,44 and about $39.28 million in our money.
Bitcoin has continued its recent decline, with a plunge of more than 10% on the day, falling half of its peak.
Central American El Salvador, which uses U.S. dollars as its public currency, adopted Bitcoin as its legal currency for the first time in the world in September last year.
President Bukele is encouraging the use of Bitcoin by paying the people up to $30 worth of Bitcoin “bonus,” but it is still not widely used.
President Bukele announced plans to issue Bitcoin bonds and build a Bitcoin city one after another, and bought Bitcoin as a treasury several times.
El Salvador’s government has not disclosed the specific status of bitcoin trading and holding, and Bloomberg said through its own tally that El Salvador has bought a total of 2,301 bitcoins since last year.
Bitcoin fell to $29,992 in Asian trading. Bitcoin collapsed $30,000 for the first time since July last year. As a result, Bitcoin plunged 55% from its highest point recorded in November last year.
At the same time, Bitcoin also plunged 12.09% from 24 hours ago to $29,999 on CoinMarketCap, a global cryptocurrency market relay site, causing $30,000 to collapse
