El Salvador Bought the Bitcoin Dip Showing its Continued Faith in the Pioneer Crypto Asset

• El Salvador bought the Bitcoin dip showing its continued faith in BTC.
• The price of BTC fell to $78,000, perhaps creating a local bottom. 
• El Salvador continues to power its Bitcoin strategy.

The price of Bitcoin (BTC) fell from $98,000 to $78,000 in the last week of February marking the worst February since 2014 for Bitcoin and the worst February ever for ETH. This dump came at a time where new ATHs were expected, creating mass FUD sentiment amongst the crypto community. Despite this, El Salvador bought the Bitcoin dip showing its continued faith in the pioneer crypto asset. 

El Salvador Bought the BTC Dip Once Again

As we can see from the post above, El Salvador bought more Bitcoin (BTC) during the latest crypto dip. This comes as no surprise to many as El Salvador was the first country ever to make Bitcoin a legal tender and its President Nayib Bukele created a visionary plan to employ the power of Bitcoin to improve the state of the country. 

El Salvador’s Successful Bitcoin Strategy

This vision has come to life over the past few years since Bitcoin became a legal tender in the nation. To highlight, El Salvador now holds 6,093.18 BTC amounting up to $520,077,555 million worth of Bitcoin in their strategic reserve . Since its accumulation of BTC began, El Salvador has come a long way and is one of the most bullish on Bitcoin nations in the world. 

Furthermore, President Nayib Bukele took on further measures to progress its pro-Bitcoin stance over the years. To highlight, the country uses the geo-thermal energy of its volcanoes to power their Bitcoin mining, it created a specific crypto wallet for its citizens to hold Bitcoin, the first of which was given for free, and it used BTC profits to fund welfare projects in the county. Indeed, El Salvador shows no slowing down on Bitcoin and no market dumps will change that as, for them, every dip is an opportunity to accumulate .