El Salvador buys over 420 Bitcoins, Ethereum price rises

As of September 6, Salvadoran President Nayib Bukele announced that the government had purchased 400 Bitcoins, and on September 7, the national government announced that Bitcoin had been recognized as a fiat currency and that cost was used to produce.

As Salvadoran President Nayib Bukele announced on Wednesday, El Salvador took advantage of Bitcoin's recent downtrend to buy an additional 420 BTC. The total number of Bitcoins will go up to 1120. At current prices, a new purchase of Bitcoin is worth around $ 24.7 million.

In September, all major exchange rate gains and losses were lower. El Salvador offered to “buy low”. At the time, Bukley said, "You can't earn as long as you buy below. You."

For a small country where Bitcoin can be used as fiat currency, it needs to be invested like a good market and will not consider short-term trading. For this country, I also went online specifically to find that the country's economy is not very developed.

Meanwhile, many people are asking if a small country can make Bitcoin a fiat country, and from September to October, they buy 1,120 BTC. At current prices, that's about $ 65.85 million. As a country that buys such a large amount of BTC, there is no doubt that Bitcoin is a market investment strategy and cannot be spent on exchange rates over time. To this end, Quan Xiaoding, especially with Internet access, wants to make a significant difference in the lives of people, businesses and services by using digital advantages, even Salvadoran industry is not very rich among all of us. Gains such as gold and the dollar also have their exchange rates, which has attracted many T investors.

So far, supporters and opponents of digital cryptocurrency have been concerned about the “lawsuit” in El Salvador. It can bring benefits to the country. However, as Bitcoin continues to gain momentum in the future, the future of Ethereum is very wide.