That’s good news for the mainstreaming of bitcoin. But the crypto fell Tuesday on the “buy the rumor, sell the news” phenomenon related to the Salvadoran policy finally coming to be, said Edward Moya, senior market analyst at Oanda.
The Central American nation had bought 200 bitcoins previously, and it purchased another 200 late Monday ahead of the formal adoption plus another 150 on Tuesday, bringing the country’s total to 550 bitcoins. It will also give residents $30 worth of bitcoin with the download of the state-run Chivo wallet app to incentivize citizens to try crypto payments.
Bitcoin had traded as high as nearly $53,000 per coin Monday on the Salvadoran activity.
–CNN Business’ Merlin Delcid contributed to this report.