El Salvador buys 150 bitcoins after the prices drop
The country's bitcoin reserve now stands at 1270 BTC
04.12.2021 - 09:00
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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.
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