El Salvador stacks 150 Bitcoin after BTC price crashes below $50k

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El Salvador stacks 150 Bitcoin after BTC price crashes below $50k

he Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.

Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000, losing over 15% in market value.

While Bukele’s government was able to make the purchase at $48,670 per coin, the bear market temporarily brought down the Bitcoin price to almost $42,000 after falling over 37% from its all-time high.

 

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