El Salvador buys 150 bitcoins after the prices drop
The country's bitcoin reserve now stands at 1270 BTC

04.12.2021 - 09:00
476
1 min
0
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%.
El Salvador just bought the dip! 🇸🇻150 coins at an average USD price of ~$48,670 🥳#Bitcoin🎄— Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
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.
Useful material?
Crypto regulations
Under the new law, no cryptocurrency reserve can be created at the state level
Jun 11, 2025
Mining
This is the 300th block mined within this pool
Jun 5, 2025
Incidents
The marketplace started operating in 2022 and allowed trading in stolen personal data
Jun 5, 2025
Incidents
Hackers laundered assets using Tornado Cash, Thorchain, and Wasabi mixers
Jun 2, 2025
Market
After June 30, fines and prison sentences will be imposed for violating the rules
Jun 2, 2025
Crypto regulations
He also stated the country’s aspiration to become a Eurasian IT hub
May 29, 2025