El Salvador will buy bitcoin every day

(ORDO NEWS) — President Salvador Bukele announced that the country will buy bitcoin every day.

Salvadoran President Nayib Bukele has announced that his country will buy one bitcoin per day from November 18th.

“We will be buying one bitcoin every day starting tomorrow,” Bukele tweeted on Thursday.

El Salvador became the first country in the world to legalize bitcoin as a means of payment. The corresponding law came into force on September 7, 2021.

On Monday, the price of bitcoin fell by 5% to $15.99 thousand.

Bitcoin is trying to hold on to the $16,000 mark amid the crisis around the bankrupt FTX crypto exchange.

Since last Tuesday, the price of the cryptocurrency has dropped from $20.56 thousand, losing more than 20% of its value in total, and the capitalization of the crypto market has dropped from more than $1 trillion to about $800 billion.

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