The recent burglary of Bitcoin seems to stop and has also influenced some altcoins. This bloodshed in the crypto market prompted El Salvador President and crypto fanatic Nayib Bukele to buy another 500 in Bitcoin (BTC/USD) as the price of this major crypto asset continues to fall to $30,000.
Based on the story, crypto enthusiast Bukele bought the dip with the intention of earning as much profit as possible. The recent purchase of 500 coins at an average price of $30,744 will be added to the nation’s reserve. This brings the country’s total BTC supply to at least 2,301 since the country first adopted Bitcoin as legal tender in September 2021.
Additionally, TronFounder of , Justin Sun, followed suit and bought 500 BTC coins at an average price of $31,031.35. The tokens will be for his latest project called Decentralized USD (USDD) and as a reserve of the Blockchain for your stablecoin to serve.
Justin explained that the move is to “protect the entire blockchain industry and crypto market.” Buying the dip and using BTC as a reserve is actually a smart plan. This will allow the company to make profits once the price spikes.
Crypto price moves complicate matters for some traders when considering buying the dip versus their risk management plans. Although the crypto market has shown over the years it is far from predictable and yet profitable for some crypto investors.
Source: Crypto News Deutsch