El Salvador will buy one bitcoin per day from November 18. Amidst the crypto crisis and Bitcoin losing its main status, Nayib Bukele from El Salvador seems ready to buy Bitcoin again. The president announced that they will start another Bitcoin collection where they will buy one Bitcoin every day, starting November 18. However, details about how long the city will follow the plan have not been disclosed.
El Salvador became the first country to use Bitcoin as legal tender starting September 7, 2021. So far, he has collected almost $375 million worth of Bitcoin. Nayib Bukele has been one of the supporters of Bitcoin and opposes the warnings received by the IMF and the World Bank.
The president of El Salvador decided to make such a move in order to support Bitcoin after the FTX collapse. Justin Sun, the founder of TRON, will also support this decision. With this support, it is a matter of curiosity how Bticoin will be affected.
If the number of people who buy 1 bitcoin every day increases with the domino effect, it can be an extremely positive step for Bitcoin.
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