El Salvador’s President, Nayib Bukele, declared that his government had “bought the dip” for 150 BTC, saying, “They can never beat you if you buy the dips.” El Salvador now has 700 bitcoins in its possession.
This announcement comes after Bitcoin fell to a low of $45,000 during the Asian session, representing a 5% fall.
“I have decided, to dispel any doubt, not to propose any kind of reform to any items related to the right to life (from the moment of conception), to marriage (keeping only the original design, a man and a woman) or to euthanasia,” Bukele is reported to have written on his Facebook page
According to Reuters, the measures were sent to Bukele by the country’s Vice President Felix Ulloa and include a presidential term extension and early termination, as well as the construction of a new body to replace the current election tribunal.
The president did not say when any measures related to the change of his tenure would be sent to Congress.