El Salvador President Nayib Bukele Hints at Buying More Bitcoin As US DOJ Approves Sell

Nayib Bukele, the President of El Salvador, has hinted that a Bitcoin buying opportunity looms, sparking optimism among investors. This stems from the recent development wherein the US Government sold $6.7 billion worth of Bitcoin tokens. The community anticipates a higher selling pressure which will pull down prices, potentially to $90,000.

El Salvador President Teases BTC Buying Opportunity

Prices of Bitcoin, or any other cryptocurrency for that matter, have fluctuated based on the market sentiment along with other factors. Besides, it also reflects the heavy selling pressure in the market, indicating that the volatility is likely to continue for some time now.

However, while some look at it as a bearish phase, others call it price correction. Besides, a flurry of prominent figures like Rich Dad Poor Dad author Robert Kiyosaki, Nayib Bukele, and others deem it a great chance to buy the token at a discounted price.

There is no denying the fact that the price of BTC has been struggling for the last couple of days, considering it has dropped below $95,000 with many calling it a price crash. The US Government has sold Bitcoin tokens that were seized from Silk Road and the token price is only going downhill since that development.

Assuming BTC does fall to $90,000, it would be a ‘prophecy which came true’ moment for El Salvador’s President, Nayib Bukele, allowing crypto enthusiasts to accumulate more tokens to their portfolio.

What’s Next for BTC?

The current exchange BTC price is $94,061.07 which is down by 1.26% in the last 24 hours and 1.43% in the last 7 days. There is also a decline in the market cap and 24-hour trading volume of 1.25% and 2.99%, respectively. The flagship token did touch upon the pinnacle of $102,464.43 earlier this week but the struggle is more than evident now and chances are that what’s next for the token is a further decline in the price chart.

A flurry of market participants are rather optimistic about the scenario with most of them pitching to proceed with the purchase of tokens if prices decline and become the ‘next Singapore’. This case could demand becoming the next ‘El Salvador’ because the nation is also known for boosting its crypto holdings and mainstreaming them widely.

Coming days for BTC are filled with two perspectives with one establishing a good chance to buy the dips and another depicting a chance to save losses if anyone is holding BTC for a short term. It is still highly speculated that BTC will fall further unless Donald Trump makes another move as he did recently by hosting Brad Garlinghouse over a dinner.

Bottomline

Nayib Bukele’s post on X has sparked an optimistic side for BTC enthusiasts. There is a high chance that Bitcoin price will bounce back if it does fall to around $90,000, for it might be backed with heavy purchases by those wanting to make the most of the dips.

Besides, Robert Kiyosaki also shared a similar sentiment recently, where he said that he would continue to accumulate more BTC as the prices went towards the South. This showcases the confidence of the traders towards the flagship crypto. However, given the heightened volatile scenario in the market, investors should exercise due diligence before putting their bets into the assets.