“They can never beat you if you buy the dips,” said Bukele, before labelling his comments as ‘Presidential advice‘.
The words may be targeted at international regulators and authorities such as the IMF which has criticised El Salvador’s adoption of the leading cryptocurrency and noted the country’s adoption of Bitcoin could have “immediate negative implications” on its credit rating.
We just bought the dip.
150 new coins!
El Salvador now holds 700 coins.#Bitcoin🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) September 20, 2021
Despite the rocky start faced by El Salvador in its adoption of Bitcoin as legal tender, more and more El Salvadorian citizens are now starting to use the native Chivo wallet to use Bitcoin. Bukele revealed that more than 1.1m citizens are now using the wallet.
However, not all citizens have embraced the move.
The surge of adoption and global awareness has also prompted the wider Bitcoin community to continue its push for Bitcoin dominance. Notorious Bitcoin bull Michael Saylor recently announced MicroStrategy purchased a further 5,050 Bitcoins for $242.m, taking its holdings to an incredible 114,042 BTC ($3.16b).
The price of Bitcoin fell below $45k in the early hours of Monday morning during an extended sell-off.
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