On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing.
Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value.
The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.
El Salvador just bought the dip!
— Nayib Bukele (@nayibbukele) December 4, 2021
150 coins at an average USD price of ~$48,670 #Bitcoin
While Bukele’s government was able to make the purchase at $48,670 per coin, the bear market temporarily brought down the Bitcoin price to almost $42,000 after falling over 37% from its all-time high.
Bukele also acknowledged missing out on purchasing Bitcoin at its bottom as he tweeted:
“Missed the f***ing bottom by 7 minutes.”
With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing. Previously, the president announced purchasing 420 Bitcoin on Oct. 28 during a temporary bearish market.
The Salvadorean government game plan includes withdrawing unrealized BTC gains in U.S. dollars to fund various developmental projects while maintaining the overall value of the central reserve.
Related: El Salvador to inaugurate Bitcoin City backed by $1B BTC bonds
On Nov. 21, President Bukele announced the launch of Bitcoin City, an initiative funded initially by $1 billion Bitcoin bonds. According to Bukele:
“In #BitcoinCity we will have digital and technological education. Geothermal energy for the entire city and efficient and sustainable public transport.”
The Bitcoin City project also sees the involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream, which according to Bukele, “will soon be home to many local and foreign digital assets offerings developing new digital asset regulation for the country.”
Related: Bitcoin tumbles below $47K wiping out October gains — Bear market begins?
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