El Salvador President Nayib Bukele has said the country will buy Bitcoin every day starting tomorrow. The price has fallen 75% since reaching an all-time high last year. Bitcoin is currently $16,521.
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Bitcoin has tumbled more than 10% this morning hitting $43,000. This comes just weeks after Bitcoin hit a new high of $69,000. El Salvador's President also tweeted to say the country bought more BTC.
President Bukele of El Salvador has announced the country bought 150 more bitcoin bringing the total to 700 coins or 30.8 million U.S. dollars. It comes after he made bitcoin legal tender.
El Salvador has become the first country in the world to adopt Bitcoin as legal tender. The move has been welcomed by many and protested by others citing a lack of confidence in the unstable currency.
El Salvador's President Nayib Bukele has announced plans to make Bitcoin legal tender of the country. At 39 he is the youngest president in Latin America and is known to break from norms.
