El Salvador's President Commits to Bitcoin Purchases Amid Soaring Prices

Saturday, 16 March 2024, 16:40
El Salvador's President Nayib Bukele reaffirmed the nation's commitment to daily Bitcoin purchases, despite initial skepticism. The country's strategic move of acquiring one Bitcoin per day has proven successful with significant unrealized profits. President Bukele announced the continuous execution of this strategy until Bitcoin's affordability with fiat currencies is compromised.

One Bitcoin a Day Proving Successful

In November 2022, President Bukele initiated a dollar-cost averaging plan for El Salvador, committing to daily BTC purchases. Despite early doubts, the decision has led to substantial profits.

Whales Continue Accumulating BTC

Bitcoin whales have demonstrated strong interest in accumulating more BTC. Wallets holding significant amounts of BTC accumulated large volumes in recent weeks, notably contributing to price surges.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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