The bitcoin price rose 2.46% this morning (July 2) to $19,206.62.
Bitcoin’s upward movement this morning came after the Dow ended Friday (July 1) with a 321-point decline as Federal Reserve interest rate hikes signal a recession in the U.S. economy. Wall Street will be closed on Monday, July 4, in observance of the United States National Day.
- The Dow Jones Industrial Average rose 321.83 points, or 1.1%, to close at 31,097.26.
- The S&P 500 rose 1.1% to close at 3,825.33 points.
- The Nasdaq was up 0.9% to close at 11,127.85 points.
The President of El Salvador buys 80 Bitcoins at a price of $19,000 with a total value of $1.52 million, showing once again that he believes and holds on to Bitcoin.
El Salvador’s president announced on his personal Twitter, “El Salvador bought today 80 #BTC at $19,000 each! #Bitcoin is the future! Thank you for selling cheap.”
The President of El Salvador supports investments in BTC as he considers it the financial system of the future. Therefore, he has enabled the legal use of Bitcoins in the country. This has led to a 30% increase in tourism industry revenue, with 60% of tourists coming from the U.S.
The Spot Market is Open
Saturday, July 2, 2022