The government claims bitcoin will promote economic inclusion of 70% of its citizens who don’t have access to traditional financial services. In September, El Salvador bought $26 million of bitcoin before officially unveiling its adoption in September. Bukele’s new Twitter profile photo was a reference to an internet meme in which crypto investors joke about their next careers if the value of the digital currency plummets.
On Friday, the government purchased 410 bitcoins for $15 million, the president announced on Twitter. Nayib Bukele, whose country was the first to adopt bitcoin as legal tender last year, changed his Twitter profile photo on Saturday to an image showing him wearing the uniform of a McDonald’s employee after the recent plunge in the cryptocurrency puts bitcoin down 45% since November.īitcoin continued its fall on Monday, dipping nearly 3 percent in the past 24 hours as of noontime trade in New York.īukele’s tongue-in-cheek post is part of a popular internet meme where long-term holders of crypto assets, also known as HODL’ers, or those who “hold on for dear life,” joke about their next careers if their investments tank.Īs of Monday morning, the price of one bitcoin was just over $34,000 - a drop of more than 45% from early November, when it reached an all-time high of $67,582 - wiping off more than a trillion dollars worth of value.īut the crypto slump has not deterred Bukele, who has gained a reputation as an aggressive dip-buyer. Crypto tycoon skips SALT conference after taking 30% stake in SkyBridgeīitcoin bull evaded more than $25M in DC taxes, city’s AG saysīlockchain burglar steals $1.5 million in crypto under investor’s noseĬrypto bandits swipe nearly $2B as hacks surge 60% in 2022: reportĮl Salvador’s crypto-enthusiast president appears to be taking the recent steep drop in bitcoin in stride: After all, if running a country doesn’t work out, there’s always McDonald’s.
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