Nayib Bukele, El Salvador’s president, announced that his country bought 410 Bitcoin amid market decline on January 22. El Salvador already holds more than 1,500 Bitcoins and intends to issue a $1 billion 10-year Bitcoin bond this year.
“Some guys are selling really cheap,” he tweeted.
Bukele has been a regular drop buyer in recent months, indicating his belief in the cryptocurrency’s long-term potential. However, Bitcoin’s price is falling by the day, with no signs of recovery in sight. Now the BTC price has dropped to the $35,000 level, lower than the $36,500 that El Salvador bought last Friday.
On Saturday, Nayib posted a picture of herself wearing a McDonald’s uniform with the hashtag #NewProfilePic. This picture is in response to the Mcdonald’s job applications NFT joke recently.
While crypto traders are counting their losses and waiting for the market to rebound, someone has transformed Mcdonald’s job applications into an NFT collection and published it on Opensea, demonstrating once again that anything can be sold as NFT. Since it went live yesterday, the collection has already generated a trading volume of 21.8 ETH.
Some cryptocurrency traders believe that the current bitcoin price drop is an attempt to undermine El Salvador’s economy and discourage other governments from legalizing Bitcoin.
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