El Salvador Nayib Bukele Bought Bitcoin

El Salvador’s Biggest Bitcoin Critics Make Embarrassing Public Statements

Today, as bitcoin was declared legal tender in El Salvador, the price declined from around $51,000 down to $43,000, and the President of the country announced that they have bought the dip. Bringing their total amount in reserve from 400 to 550 BTC.

Joking but also seriously, the President took a jab at the IMF, thanking them for the dip. The IMF is not in support of El Salvador adopting a Bitcoin standard, and it is novel and encouraging the president of a country stand his ground against the people who didn’t care about them in the first place. The IMF goes into countries with the aim of centrally planning their economies, but Bukele is helping to take that centralized power away from them by using a decentralized currency.

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