El Salvador Bought Another 420 Bitcoin

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Today’s Cryptocurrency Headline 

Nayib Bukele, El Salvador’s president, tweeted that El Salvador had bought 420 more Bitcoins and now holds 1,120 in total. During last month’s Bitcoin rout, El Salvador stuck to a “buy the dips” strategy. Bukele also tweeted at the time: “As long as you buy the dips, they will never beat you.”

Bingbon’s Bitcoin Chart

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The SEC has asked at least one asset manager not to move forward with plans for a leveraged Bitcoin ETF, according to people familiar with the matter. The SEC said it wants to limit new Bitcoin-related products to those that offer non-leveraged exposure to Bitcoin futures contracts, such as the ProShares Bitcoin Strategy ETF launched last week, according to people familiar with the matter. Markets have been greedy in recent weeks. Indicators suggest the market is over-leveraged. Bitcoin price continues to hover between $50,000 and $60,000.