El Salvador's President Naib Bukele said on Thursday that starting Friday (November 18) will buy one cryptocurrency every day. President Bukele made this announcement at a time when cryptocurrencies around the world are going through a downfall following the collapse of the FTX crypto exchange. Most of the world's cryptocurrencies are going through price pressure and liquidity crises these days.
El Salvador's President Naib Bukele informed in a tweet on Thursday that from tomorrow we will buy one bitcoin every day.
Bitcoin prices have declined by 73 percent so far from last year's high of $60,300 per coin. On the other hand, after this decision of the President of El Salvador, Tron cryptocurrency network, and Ambassador of Grenada Justin Sun have also said that they support the decision of President Bukele and we will also buy one bitcoin every day.
In June last year, El Salvador became the first country in the world to adopt bitcoin as a legal tender against the dollar. The debt-ridden country has reportedly bought 2,381 bitcoins so far at an average price of $43,000. However, the board of the International Monetary Fund (IMF) has asked El Salvador to withdraw its decision to make bitcoin legal tender, calling for tighter regulation of e-wallets in the country.
Last week, cryptocurrencies including Bitcoin, Ethereum, and Polygon saw a massive sell-off, with a fall of up to 16 percent in 24 hours. This pressure on crypto prices is visible due to the financial crisis in a major crypto exchange FTX. The situation worsened after the cancellation of the hedging deal between Binance-FTX.
On November 10, bitcoin crashed by nearly 16 percent amid this latest development. While Ethereum and XRP also registered a decline of 12 percent. Polygon was seen trading down around 7 percent. At the same time, Ether has also declined by about 13 percent.
The expansion of the armies of India and China along the disputed border is raising the risk of a
The Australian team, which collapsed in front of Jasprit Bumrah's destructive bowling in the Pert
The countdown for IPL 2024 has started. The 17th season of the Indian Premier League is to start
BCCI Cricket Advisory Committee (CAC): The Board of Control for Cricket in India has selected a t
The CBI will present Manish Sisodia, arrested in the Delhi Liquor Policy case, in Delhi's Rouse A
The Indian team will start its World Cup campaign on Wednesday. India will face Ireland at the Na
These days, a special style is seen everywhere in the trailer release programs of films in Mumbai
There is a possibility of a cyclonic storm to the south of Porbandar in Gujarat. The Indian Meteo
Congress leader Rahul Gandhi has launched a scathing attack on the Modi government over the Mahat
Covid-19: 5881 active cases of corona in the country after the decline, 5 deaths in last 24 hours
While there has been a spurt of 408 cases in a single day in the cases of corona in the country,
