{"id":376311,"date":"2021-12-04T09:56:03","date_gmt":"2021-12-04T06:56:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/el-salvador-stacks-150-bitcoin-after-btc-price-crashes-below-50k\/"},"modified":"2021-12-04T09:56:03","modified_gmt":"2021-12-04T06:56:03","slug":"el-salvador-stacks-150-bitcoin-after-btc-price-crashes-below-50k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/el-salvador-stacks-150-bitcoin-after-btc-price-crashes-below-50k\/","title":{"rendered":"# El Salvador stacks 150 Bitcoin after BTC price crashes below $50k"},"content":{"rendered":"<p>&#8220;<strong># El Salvador stacks 150 Bitcoin after BTC price crashes below $50k <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.<\/p>\n<p>Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">El Salvador just bought the dip! <\/p>\n<p>150 coins at an average USD price of ~$48,670 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 Nayib Bukele  (@nayibbukele) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1467000621354135555?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nWhile Bukele\u2019s government was able to make the purchase at $48,670 per coin, the bear market temporarily brought down the Bitcoin price to almost $42,000 after falling over 37% from its all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/61ee7654-8024-4778-8f6e-85c4ad6bba57.png\"><figcaption style=\"text-align: center;\">BTC\/USD market price. Source: TradingView<\/figcaption><\/figure>\n<p>Bukele also acknowledged missing out on purchasing Bitcoin at its bottom as he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1467003967133687809\">tweeted<\/a>:<\/p>\n<blockquote><p>\u201cMissed the f***ing bottom by 7 minutes.\u201d<\/p><\/blockquote>\n<p>With this purchase, El Salvador\u2019s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing. Previously, the president announced purchasing 420 Bitcoin on Oct. 28 during a temporary bearish market.\u00a0<\/p>\n<p>The Salvadorean government <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> plan includes withdrawing unrealized BTC gains in U.S. dollars to fund various developmental projects while maintaining the overall value of the central reserve. <\/p>\n<p><strong>Related: <\/strong><strong><em>El Salvador to inaugurate Bitcoin City backed by $1B BTC bonds<\/em><\/strong><\/p>\n<p>On Nov. 21, President Bukele announced the launch of Bitcoin City, an initiative funded initially by $1 billion Bitcoin bonds. According to Bukele:<\/p>\n<blockquote><p>\u201cIn #BitcoinCity we will have digital and technological education. Geothermal energy for the entire city and efficient and sustainable public transport.\u201d<\/p><\/blockquote>\n<p>The Bitcoin City project also sees the involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back\u2019s Blockstream, which according to Bukele, \u201cwill soon be home to many local and foreign digital assets offerings developing new digital asset regulation for the country.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/el-salvador-stacks-150-bitcoin-after-btc-price-crashes-below-50k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# El Salvador stacks 150 Bitcoin after BTC price crashes below $50k &#8221; The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November. Salvadoran president Nayib Bukele announced the purchase of 150 BTC as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":376312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvMTI1YjZkNGMtODIzZS00NGFhLWJmYWItMmE2YjlhYzJjODc5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74894,74863,74355,90059,73785],"class_list":["post-376311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-blockchain","tag-cryptocurrencies","tag-adoption","tag-el-salvador","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=376311"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/376311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/376312"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=376311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=376311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=376311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}