One Bitcoin A Day: This debt-ridden country will buy one bitcoin every day, President tweeted information


Posted on 18th Nov 2022 03:09 pm by rohit kumar

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.

 

Also Read: Profit: In the second quarter, the profit of the education industry increased by 182 percent, and the real estate sector got the most by 429 percent.

1 Like 0 Dislike
Previous news Next news
Other news

Waqf Bill: 572 amendments suggested in the Waqf Bill amid tussle between government and opposition; Clause-wise discussion in JPC meeting

The government and the opposition are face to face over the Waqf Amendment Bill. Meanwhile, membe

In Bigg Boss 18, she was speechless in front of Salman Khan, now Ashneer Grover said in his defense- he did this for TRP...

Bollywood's Bhaijaan i.e. Salman Khan never misses a chance to win the hearts of his fans with hi

Pran Pratishtha: No entry in Ayodhya from today, only invited people will be able to go, special bus trains will run after 23

Given the consecration of life in Shri Ram Temple, traffic diversion will be implemented from mid

PM Modi: PM Modi inaugurated 'India Energy Week', and said - the modern infrastructure of the 21st century should be maintained.

Prime Minister Narendra Modi inaugurated India Energy Week 2024 in Goa. During this, in his addre

Bharat Ratna: Five personalities including Narasimha Rao-Chaudhary Charan Singh received Bharat Ratna, honored by the President

President Draupadi Murmu today honored five personalities selected by the Government of India wit

Pune Porsche car crash: Retired IAS demands transfer of police commissioner; blood samples of other car passengers taken

In the Pune Porsche car accident case, retired IAS officer Arun Bhatia has written a letter to th

Stranger Things 5 ​​Review: Stranger Things 5 ​​creates a stir on Netflix, the public gives its verdict on X regarding Volume 1

The day has finally arrived for entertainment fans who have been waiting for the past three years

ODI WC 2023: 'Pakistan has made an agreement, cannot back down'; ICC's response to PCB's statement about coming to India

After the schedule of the ODI World Cup was decided, the Pakistan Cricket Board (PCB) started rel

'Appear by 3 PM tomorrow...', DGCA summons IndiGo CEO Pieter Elbers again over the IndiGo crisis.

Following the Indigo crisis, the government's strict action now looms over the airline's senior o

IND vs BAN: India-Bangladesh clashed four times in the World Cup; the First match between the two on Indian soil since 1998

The 17th match of the World Cup 2023 will be played between India and Bangladesh today at the Mah

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash