El Salvador president addresses bear market concerns with Bitcoin hopium
Cointelegraph
Published Jun 19, 2022 06:42AM ET
Updated Jun 20, 2022 09:00AM ET
Nayib Bukele, the president who helped Bitcoin (BTC) gain legal tender status in El Salvador, addressed the rising concerns of investors as BTC began trading for under $20,000 for the first time in 18 months.
El Salvador introduced Bitcoin as legal tender on September 7, 2021, when its market price was around $50,000. Ever since, Bukele’s government made significant returns on their initial BTC investments as Bitcoin rallied to its all-time high of $69,000, which was redirected to the country’s various infrastructure development initiatives.
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Written By: Cointelegraph
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