El Salvador Effect On Bitcoin: Rising Price To 52 Thousand Dollars

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The purchase of Bitcoin by El Salvador, where today the cryptocurrency will become a legal tender, is having the expected fruits on the virtual coin market.

As Cointelegraph pointed out, the cryptocurrency reached 52,960 Dollars in the night. The moment we’re writing, the virtual currency is traded to 51,315,94 Dollars, up 8,06% compared to seven days ago.

Ethereum also benefits from the long wave, which on a weekly basis earns 13.10% and is at 3,762.78 Dollars, but a decrease of 4.68% compared to 24 hours ago. Cardano also drops, at 2.63 Dollars of 9,30% compared to yesterday and 6.01% in the last seven days.

In the evening of yesterday the president of El Salvador announced the purchase of 400 Bitcoin, for a total of 20 million Dollars based on the value collected at the time of purchase. It is not excluded that in the future the country can buy more, since today Bitcoin becomes in all respects the official currency that is added to the US dollar: the law approved requires everyone to accept the cryptocurrency as payment method for goods and services, There is a lot of attention around this decision and the effects may be felt over the next few hours.

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