Saturday March 15, 2025

Bitcoin President Nayib Bukele to Buy One Bitcoin Every Day

Bitcoin President Nayib Bukele to Buy One Bitcoin Every Day

by Peter Siu November 17, 2022 2 min read

(Originally posted on : Crypto News – iGaming.org )

With the threat of the recent bankruptcy of crypto exchange FTX prolonging the current crypto winter, El Salvador President Nayib Bukele said that his country will be acquiring one Bitcoin each day.

El Salvador President Nayib Bukele, who on September 7, 2021 made Bitcoin legal tender in the Bitcoin-nation, has committed to buy ONE Bitcoin each day starting Thursday November 11.

“Starting tomorrow, we will buy one #Bitcoin every day,” Bukele tweeted on Wednesday.

Not much later. Justin Sun, the founder of the Tron cryptocurrency network and Grenada’s ambassador, announced to back Bukele and do the same by adopting a scheme identical to Bukele’s ‘dollar cost averaging’.

At time of writing, Bitcoin was valued at $16,610 according to CoinMarketCap, down 75% since hitting its all-time high of $69,000 a little over a year ago on November 11, 2021.

Peter Siu

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