ICOcreed logo ICOcreed logo
ICOcreed logo
Seeking Alpha 2021-10-27 21:53:57

El Salvador buys the dip in Bitcoin

El Salvador President Nayib Bukele is either taking advantage of bitcoin's (BTC-USD) dip below $60K, or he's channeling his inner Elon Musk, but minutes ago he took to Twitter to announce the purchase of another 420 bitcoins. That would take the country's stash to 1,120 bitcoins, worth $66M at the crypto's current price of $59K. Bitcoin has had a rough few days of it since hitting a new all-time high of about $67K on Wednesday, sliding as low as $58.3K at one point this afternoon. Even with that decline, it's higher by about 40% over the past month. The action in the crypto market was pretty wild today, with nearly every coin selling off sharply, except for Shiba Inu (SHIB-USD), which climbed as much as 75%. It's currently ahead 56%. Morning Brew takes note of one wallet address that purchased about $8K of Shiba in August that's now worth $5.7B. Has it really been

Disclaimer : All crypto price forecasts provided on our website are only for general information. The content should not considered as financial advice, legal advice or any other form of advice meant for your investment. Conduct your own research before investing in any cryptocurrency. Trading is a highly risky business, please consult with your financial advisor before making any decision.