The country's bitcoin reserve now stands at 1270 BTC

El Salvador buys 150 bitcoins after the prices drop

04.12.2021 - 09:00

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1 min

What’s new? El Salvador's President Nayib Bukele has announced on Twitter the purchase of 150 BTC. The decision was made due to the first cryptocurrency's sharp price drop of almost 15%.

What else did the president add? Bukele admitted that he missed an opportunity to buy bitcoins during the peak downturn:

“Missed the *** bottom by 7 minutes.”

What is the country buying cryptocurrency for? El Salvador's bitcoin reserve now stands at 1270 BTC, which at the time of writing is almost $60,3 million. On November 21, President Bukele announced the launch of the “Bitcoin City” project, funded by purchased bitcoins.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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