El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

El Salvadaor bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.

  • “Some guys are selling really cheap,” he added in his tweet. Bitcoin was down about 12% late Friday to the $36,500 level as broader crypto prices also retreated.
  • The nation now holds over 1,500 BTC and plans to issue a $1 billion, 10-year bitcoin bond this year.
  • Bukele has been a consistent dip buyer over the past couple of months in a sign of confidence in the cryptocurrency’s long-term prospects.
  • Bitcoin officially became legal tender in El Salvador last September, three months after the country’s legislature passed the Bitcoin Law.

Read more: El Salvador Plans to Offer Crypto-Based Loans for SMEs

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Originally Posted on: https://www.coindesk.com/business/2022/01/21/el-salvador-purchases-410-more-bitcoins-amid-market-drop/
By: Michael Bellusci

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