In a matter of hours, the price of bitcoin (BTC) dropped US$ 10,000 on the day El Salvador officially implemented the cryptocurrency as currency.
According to crypto broker Binance, the price of bitcoin fell from US$ 53,000 to US$ 42.8 thousand – while at the brokerage hoobi, the price of the cryptocurrency dropped below US$ 40 thousand.
Since then, the price of bitcoin has recovered somewhat, returning to the $46,000 mark.
As a result of the drop, more than $2.65 billion was paid off in the last hour, according to data from The Block Research.
During the price drop, the president of El Salvador, Nayib Bukele, he said in a tweet which is “buying low” and has acquired another 150 BTC (US$6.9 million) in addition to the 400 BTC (US$18.4 million) previously acquired.
Buying the dip 😉
— Nayib Bukele 🇸🇻 (@nayibbukele) September 7, 2021
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