President Nayib Bukele of El Salvador announced on his Twitter this Monday that the central American nation bought 150 new Bitcoins from the dip and now accumulates 700 coins.
Why did this happen? Cryptocurrency prices sank on Monday as the Chinese Property group The Evergrande Group is close to a collapse causing a stir and a dip in the global market. Many individuals taking advantage of this market to purchase more coins.
What did it cause? Bitcoin, the world's biggest and best-known cryptocurrency, fell to $42,453.97, its lowest level since August. Ether, the coin linked to the Ethereum blockchain network, fell more than 10% below $3,000 for the first time since early August.