Stock Groups

El Salvador buys the dip, adds nearly $25 million worth of Bitcoin to its stash By BTC Peers

by Mike Robinson

[ad_1]

© Reuters. El Salvador purchases the Bitcoin dip and adds almost $25 Million worth to its Bitcoin stash

Nayib Bukele, El Salvador’s President, announced Wednesday that his government has purchased an additional 422. This brings the total amount of Bitcoin in their portfolio to 1,120 BTC.

TradingView data showed that Bitcoin trades at $58.9K as of the announcement. The transaction value was approximately $24.7 Million.

This purchase is just a month following the addition of 150 BTC to crypto holdings by the Central American country, in addition to the previously acquired 550 BTC.

Bukele tweeted Wednesday, “We just bought the dip!” a similar phrase he used after the September purchase.

Remember that Bitcoin was legalized in El Salvador this September 7, following the adoption of the Bitcoin Law. The move came with many criticisms, which led to demonstrations and eventually the destruction of property.

The Salvadorian government is not deterred by these challenges. They continue to implement Bitcoin-based innovation within their country.

Continue reading on BTC Peers

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]