Masters of the Dip, El Salvador Buys 80 Bitcoin at ,000 per Coin
On Thursday, El Salvador president Nayib Bukele announced on Twitter that his country purchased another 80 Bitcoin (BTC) at $19,000 per coin. A bargain, according to the ‘Bitcoin President’.
“Bitcoin is the future. Thank you for selling cheap,” Bukele shared with his Twitter followers, as he included a screenshots of 40 purchases made on Thursday in which a total of $1.52 million was spent.
El Salvador bought today 80 #BTC at $19,000 each!#Bitcoin is the future!
Thank you for selling cheap 😉 pic.twitter.com/ZHwr0Ln1Ze
— Nayib Bukele (@nayibbukele) July 1, 2022
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The last time El Salvador’s bought the flagship cryptocurrency was in May, when the Central American country added 500 coins for a total of $15.3 million to its Treasury.
Prior to today, from the country’s first purchase of 200 BTC in September 2021, El Salvador had bought 2301 BTC, spending a total of $103.9 million. At current prices, it is worth less than half of that amount.
Be it that the country has lost more than 50%$ on its Bitcoin holdings, El Salvador Finance Minister Alejandro Zelaya commented in May his Treasury’s Bitcoin only represents less than 0.5% of its annual budget, and that there is “extremely minimal” risk to the country’s fiscal position.
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Source: igaming
