- El Salvador buys Bitcoin dips last days
- It bought 7 BTC for an average price of ~$94K
- And later 1 BTC for ~$87K and 1 BTC for ~$85K
El Salvador traditionally continues its purchases both in moments of Bitcoin growth and decline and recently bought 7 BTC at once and later by 1 BTC.
More About El Salvador’s Regular Purchases
Recently, BTC and XRP have declined, while Ethereum experienced short-term growth.
Despite that, El Salvador classically purchased BTC, but as the price fell to ~$94K they probably decided not to miss the moment and purchased as much as 7 BTC. However, when the price dropped even more, to ~$87K and for ~$85K – El Salvador returned to his standard approach and bought only 1 BTC in each case.
You can see how from February 16 to 18 the purchases continued while Bitcoin was falling, and from February 18 to 21 they stopped while Bitcoin was rapidly recovering. This seems to be a very classic and expected approach, but when Bitcoin started to fall again from February 21 to February 24 – purchases did not resume until February 25 with the purchase of 7 BTC at once.
We have seen something similar recently, which suggests that El Salvador’s strategy is a bit more complex than just buying at the lowest possible price.
Conclusion
El Salvador shows a relatively steady and consistent accumulation of Bitcoin, which has already become a benchmark for many nations and a distinct phenomenon in the crypto industry.
We’ll continue to keep a close eye on El Salvador’s purchases, which probably aren’t going to end anytime soon. Be aware and stay tuned to make your trading strategy adaptive and balanced.
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
