• bitcoinBitcoin$19,184.34-0.51%
  • ethereumEthereum$1,295.05-1.27%
  • elrond-erd-2Elrond$47.900.58%

El Salvador Purchases 420 More Bitcoin

Nayib Bukele, the president of El Salvador, confirmed on Twitter that his government bought the dip and added 420 more Bitcoin to the stash of the country.

“It was a long wait, but worth it! We just bought the dip!”

He also added: “We’re already making a profit off the Bitcoin we just bought.” Indeed, between those two tweets, the value of the Bitcoin owned by El Salvador grew by about 0.4% or $100,000.

420 BTC currently have a value of $24.6 million. In total, El Salvador now owns 1,120 Bitcoin with a total value of $87.4 million.

The estimated average price for which the country acquired BTC is $53,300.

Douglas Rodriguez, the chief of the Central Bank of El Salvador, spoke with Bloomberg this month and said that they are hoping that Bitcoin will start losing its reputation as a speculative asset and be a proper payment system: “We don’t see any risks. Perhaps, upside risks. [Bill will] become a payment system, a system for financial inclusion.”

Previous articleNext article

Leave a Reply

Your email address will not be published.