![]() ![]() The $30 amount matched the quantum of equivalent coin that El Salvador promised to put into every citizen’s digital wallet. In one Reddit group of 3.3 million bitcoin advocates, a campaign started up to get members to each buy $30 worth of bitcoin-a way to reward El Salvador for its boldness by pushing up the price of the currency. Sure enough, in meme-stock-y fashion, El Salvador attracted like-minded crypto-enthusiasts. It was as if the government had “diamond hands,” the WallStreetBets slang that implies holding on to a meme stock with an unshakeable grip. 7, Bukele’s government doubled down and purchased more coins. When the price of bitcoin crashed soon after bitcoin’s debut in El Salvador on Sep. He first proposed approving bitcoin as legal tender in early June a law to that effect was passed three days later by his country’s legislature. Like meme-stock devotees, Bukele has shown a YOLO mindset, acting quickly and unhesitatingly in pursuit of his chosen asset. El Salvador has “diamond hands” for bitcoin Like Musk or other influencers, he possesses, in theory, an ability to move the market-an ability to get people to buy bitcoin and drive up its value just after his government purchased 150 new coins. 7-”Buying the dip,” followed by a winking emoji-was a precise echo, using the very words that WallStreetBets members invoke so frequently. “Gamestonk!!” Musk had tweeted in January, as if to goad his followers into buying the GameStop stock he was excited about. On his Twitter feed, Nayib Bukele, the entrepreneur-turned-president of El Salvador, even dropped short, trumpeting announcements in the vein of Elon Musk.
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