El Salvador’s president – Nayib Bukele – was recently worried that his country missed out on buying cheaper bitcoin. However, the latest dipped allowed the nation to accumulate 410 more BTC.
The small Central American country made history last year when it became the first nation to adopt the primary cryptocurrency as legal tender inside its borders.
Since then, it has started numerous pro-bitcoin initiatives and frequently buys more of the asset.
Although their total investment was worth $10 million less at the start of January, president Bukele said he was concerned that the country failed to purchase more BTC during the recent market crashes.
This happened when BTC dropped to $40,000 but bounced off immediately to around $44,000.
However, the cryptocurrency went on the downhill again in the past few days, losing nearly $9,000 in two days.
This has allowed El Salvador to make one of its largest purchases to date, as announced by Bukele. Overall, the country purchased 410 BTC worth roughly $15 million.
Nope, I was wrong, didn’t miss it.
El Salvador just bought 410 #bitcoin for only 15 million dollars 🥳
Some guys are selling really cheap 🤷🏻♂️ https://t.co/vEUEzp5UdU
— Nayib Bukele 🇸🇻 (@nayibbukele) January 21, 2022
Nevertheless, the country’s total BTC investment is still very much in the red, as estimations show that El Salvador is down about $20 million as of now.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.
Be the first to comment