Bukele and Sun commit to buy one BTC every day, starting from Thursday amid fears that crypto exchange FTX’s recent collapse would prolong the ongoing crypto winter.
President of El Salvador Nayib Bukele and Justin Sun, founder of cryptocurrency network Tron and Ambassador of Grenada, decided to start collecting bitcoins at a rate of 1 BTC per day.
“We are buying one #Bitcoin every day starting tomorrow,” Bukele tweeted late Wednesday. Shortly thereafter, Sun announced a similar plan modeled on Bukele’s stockpiling strategy.
One bitcoin was worth around $16,500 just before it was released. The cryptocurrency is down 76% since hitting an all-time high of $69,000 on November 10, 2021.
