El Salvador continued to accumulate more BItcoin on Monday, taking advantage of the price of the digital token, which fell below $46,000, CoinTelegraph reported.

  • El Salvador acquired another 150 new coins, bringing its total Bitcoin holdings to 700. The county has repeatedly bought at the dip after it accumulated 150 coins on September 7, the day the cryptocurrency fell below $43,000.
  • The announcement was made by Salvadoran President Nayib Bukele on his verified Twitter account, noting that “they can never beat you if you buy the dips,” and following the thread with “Presidential advice” and an emoji of the El Salvador flag.
  • The country’s legalization of BItcoin has been welcomed by investors, but global credit watchers have flagged that this could have immediate negative implications for its credit rating.

El Salvador had an initial 450 Bitcoin holdings when it legalized the token and has since increased its holdings in two price dips in the two weeks. BTC is down 8.12%