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Nayib Bukele Has Some Words of Advice for Bitcoin HODLers

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  • BTC Price at the time of writing – $19,590.92
  • El Salvador’s bitcoin (BTC) holdings are now valued at $51.5 million
  • BTC’s Market Cap is up by around 6% over the past 24 hours

Salvadoran President Nayib Bukele offered a counsel to those Bitcoin holders who may be feeling apprehensive or stressed right now over the new accident in the cost of Bitcoin.

As you might be aware, on 5 June 2021, Zap Solutions (a Bitcoin installments startup that utilizes the Lightning Network) Founder and CEO Jack Mallers declared at Miami’s Bitcoin 2021 gathering that El Salvador’s administration needed to pass regulation to make Bitcoin legitimate delicate (close by the U.S. dollar).

The proposed bill got passed by the Legislative Assembly 

During his discussion, a close-to-home Mallers introduced a recorded video message from President Bukele and read out a little section from the proposed bill. 

Mallers proceeded to say that his firm would be opening a developments community in El Salvador with the assistance of Blockstream.

On 9 June 2021, this proposed bill got passed by the Legislative Assembly (with 62 out 84 democratic for it).

Then, on 25 June 2021, Reuters distributed a report that said El Salvador President Nayib Bukele had declared during a public location on 24 June 2021 that Bitcoin Law would become viable on 7 September 2021.

ALSO READ: Do Kwon took to Twitter to share his latest sentiments

The country’s most recent buy was on May 9

On 6 September 2021, President Bukele reported that his nation had purchased its initial 200 bitcoins and they intended to purchase significantly more.

As per a CoinDesk report distributed on June 14, President Nayib Bukele has declared 10 acquisition of bitcoin since September 2021, with the nation finally checking to hold 2,301 bitcoins procured at a typical cost of $45,171 each. 

The report proceeded to say that “the country’s latest purchase was on May 9, when Bukele stepped before bitcoin’s downfall then to buy 500 coins for $15.3 million, or a typical cost of $30,744 each.

Per information by TradingView, right now (as of 5:45 a.m. UTC on June 19), on crypto trade Bitstamp, Bitcoin is exchanging around $18,014.

Nancy J. Allen
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