Crypto News
| Published On Nov 17, 2022 9:12 am CET | By Peter Siu

Bitcoin President Nayib Bukele to Buy One Bitcoin Every Day

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With the threat of the recent bankruptcy of crypto exchange FTX prolonging the current crypto winter, El Salvador President Nayib Bukele  said that his country will be acquiring one Bitcoin each day.

El Salvador President Nayib Bukele, who on September 7, 2021 made Bitcoin legal tender in the Bitcoin-nation, has committed to buy ONE Bitcoin each day starting Thursday November 11.

“Starting tomorrow, we will buy one #Bitcoin every day,” Bukele tweeted on Wednesday.

Not much later. Justin Sun, the founder of the Tron cryptocurrency network and Grenada’s ambassador, announced to back Bukele and do the same by adopting a scheme identical to Bukele’s ‘dollar cost averaging’.

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At time of writing, Bitcoin was valued at $16,610 according to CoinMarketCap, down 75% since hitting its all-time high of $69,000 a little over a year ago on November 11, 2021.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.