Bukele boasts that El Salvador would make profits if it sells its recently bought 500 Bitcoins.
BTC price is in a dilemma but El Salvador’s president and Tron founder remain optimistic about a BTC bullish reversal.
As Bitcoin price continues to decline, some BTC advocates remain optimistic about a bullish reversal. One of them is El Salvador president, nayib bukele.
On May 9, Bukele revealed on Twitter that his country El Salvador has bought 500 BTC at an average price of $30,744. However, many people criticized him for messing around with his country’s Treasury.
El Salvador just bought the dip! ??
500 coins at an average USD price of ~$30,744 ?#Bitcoin
— Nayib Bukele (@nayibbukele) May 9, 2022
Today, Bukele tweeted again that if he sell his country’s BTC right now, they would make almost a million dollars in just 11 hours.
I could sell this coins right now and make almost a million dollars in just 11 hours, but of course not ? https://t.co/BrZx3dwA5q
— Nayib Bukele (@nayibbukele) May 10, 2022
But the president says he is not selling any of his country’s BTC holdings.
His response is an apparent reaction to the criticisms he has received following his announcement of buying 500 BTC for El Salvador yesterday.
Like Bukele, who remains optimistic about a BTC price reversal, Tron founder Justin Sun, also shares the same optimism.
As previously reported on Thecryptobasic, Justin Sun retweeted a tweet by the Tron DAO reserve which revealed that the DAO has also purchased 500 BTC. Sun further confirmed that Tron is following the footsteps of El Salvador in increasing their BTC holdings.
Despite massive BTC inflows from whales to exchanges and a general downtrend in the crypto market now, it is a little surprising that El Salvador and Tron DAO are actively buying the current BTC dip.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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