The cryptocurrency market has been battered by bear attacks, leaving investors discouraged. But El Salvador President Naib Bukele is enjoying this too.
Nayib Bukele then, instead of worrying about the current state of the market, is buying bitcoins as if he is receiving a discount offer.
It should be noted that bitcoin whales sell their bitcoins to new buyers as the price of bitcoins rises, then they manipulate to drop the market so that HODLers sell their bitcoins early to avoid losses, and they (whales) buy back to increase their crypto treasure. Later, when the price rises again, they (whales) repeat the same strategy.
Nayib Bukele is jeopardizing that strategy by buying the Dip. According to his (Bukele's) recent tweet, he purchased 410 bitcoins during the current market crash, this has made El Salvador's crypto treasury to reach more than 1.8k bitcoins.
El Salvador boosts bitcoin treasure, now whales will repent
By Yugocean | Crypto Champion | 22 Jan 2022
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