El Salvadorian president assures Bitcoin will rise again; purchases more
The president of El Salvador, Nayib Bukele, says cryptocurrency Bitcoin will soon rebound despite its current slide in value.
Mr Bukele gave the assurance on Thursday while announcing that the country has purchased a total amount of 80 bitcoins at the rate of $19,000.
The El Salvador leader has faced growing criticisms from citizens as the value of bitcoin continues to experience a dip in its value.
The country has invested hugely in the cryptocurrency and even made Bitcoin its legal tender in September 2021, alongside the U.S. dollar.
More than 2,000 Bitcoins have been purchased by the Central American country over this period.
“Stop looking at the graph and enjoy life,” Mr Bukele advised investors via Twitter. “If you invested in BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.”
El Salvador last year April became the first country to acquire Bitcoin as a means of legal tender; this paved the way for other countries to follow suit.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 2
Gov. Oyebanji to resume duties Monday after two-week annual leave
Mr Oyebode said the leave was part Mr Oyebanji’s statutory annual leave entitlement.
Agriculture
FG engages 200 youths to drive innovation, growth in agriculture
Ms Liman urged youths to explore opportunities in agriculture, technology and other sectors.
States
Stakeholders seek improved health budget implementation in Kaduna
Mr Guje described CSOs as representatives of communities.
States
NEMA distributes life jackets, relief materials to Gorau boat accident victims
Gorau village head, Aliyu Magaji, was one of the survivors of the boat accident.
Agriculture
Plant breeders seek increased investment in research to boost food security
Mr Adetimirin said investment in plant breeding was essential to developing improved crop varieties with higher yields.
NationWide
Gani Fawehinmi Lecture: Groups demand reforms to tackle insecurity, hardship
Participants at the event stressed the need to sustain the late Mr Fawehinmi’s struggle for justice.
