El Salvador bought another 100 bitcoins during the cryptocurrency sell-off and the new Covid-19 variant panic – market and price bitcoin news

As reports of the new Covid-19 strain spread, the prices of many cryptocurrencies fell, and El Salvador bought down.The country added 100 bitcoins to its treasury, despite The International Monetary Fund (IMF) recently issued a warning to bring the total number of bitcoins purchased to 1,220.

El Salvador purchases fall: 1,220 bitcoins have been purchased so far

Following reports of the spread of a new variant of the coronavirus, El Salvador took advantage of Friday’s sell-off and bought another 100 bitcoins. The President of El Salvador, Nayib Bukele, tweeted on Black Friday that his country has bought down. He wrote: “Buy 100 extra coins at a discounted price.”

El Salvador bought another 100 bitcoins amid the cryptocurrency sell-off and the new Covid-19 variant scare

On Friday, an advisory team from the World Health Organization (WHO) classified the new Covid-19 variant first discovered in South Africa as a highly contagious virus and named it “Omicron.”

The crypto market falls off Billions of dollars On Friday, there were reports of a new strain of coronavirus. The price of Bitcoin fell from $59,165 on Thursday afternoon to $53,798 on Friday afternoon. Bitcoin According to the following data, at the time of writing, the transaction price of each coin is $54,830.98 Bitcoin.com market.

El Salvador bought another 100 bitcoins amid the cryptocurrency sell-off and the new Covid-19 variant scare
Bitcoin price chart.Source: Bitcoin.com market

El Salvador made Bitcoin and the U.S. dollar legal tender on September 7. Bitcoin Approximately US$46,000.

Since Bitcoin became legal tender, El Salvador has bought 1,220 Bitcoin In general, according to Booker’s announcement.

On the day before the country’s Bitcoin law came into effect, El Salvador purchased two sets of 200 Bitcoins. Bought 150 Bitcoin More on September 7th, and 150 more coins on September 20th. Bukele said at the time, “El Salvador now has 700 coins. “

Since then, El Salvador has purchased another 420 coins on October 27, bringing the total purchase amount to 1,120 coins. Friday’s purchase brought the country’s Bitcoin storage to 1,220 coins. At current prices, the value of 1,220 bitcoins is approximately $66.9 million.

President Booker announced a plan last week to build the world’s first “Bitcoin City” powered and funded by a volcano. Bitcoin bondsHe pointed out that, apart from value added tax (VAT), Bitcoin City will not have any taxes.

However, a day after the announcement, the International Monetary Fund (IMF) Warning country Object to use Bitcoin As legal tender. The International Monetary Fund listed “significant risks to consumer protection, financial integrity, and financial stability” as reasons, and added that “this would also lead to fiscal contingent liabilities.”

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Bitcoin City, Bitcoin sell-off, Buy dipping sauce, Buy on dips, Buy bitcoin, Coronavirus disease, covid-19 variant, Crypto sell-off, Savior, El Salvador buys Bitcoin, International Monetary Fund, President Naib Bukler

With the emergence of new Covid-19 strains, what do you think of El Salvador buying on dips while the crypto market is selling off? Please let us know in the comments section below.

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