Bought the Dip: El Salvador Purchased 410 Bitcoin for $15M
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.
