In Brief:
- Early today, El Salvador bought a dip and purchased 150 BTC.
- El Salvador’s Bitcoin collection now counts to 1,270 BTC, which is worth nearly $60.3 million.
Today, El Salvador has purchased a dip by buying 150 Bitcoins.
Early today, the price of bitcoin dropped, falling nearly $10,000 in just an hour to a temporary low of $42,000 after which it rose to $45,000.
Taking advantage of the big market crash, The Republic of El Salvador made a quick purchase of 150 Bitcoin (BTC). In the tweet, El Salvador’s president, Nayib Bukele announced the purchase of 150 coins at an average price of $48,670.
In the following tweet, Bukele also pointed out that he missed the bottom price by only 7 minutes.
After this purchase, El Salvador’s Bitcoin collection now counts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing. Previously, the president announced purchasing 420 Bitcoin on October 28 during a temporary drop in prices.
The Salvadorean government aims to withdraw unrealized BTC gains in U.S. dollars for both supporting various developmental schemes and also maintaining the total value of the central reserve.
Interestingly, the value of Bitcoin is $47293 at the time of writing.
In November, El Salvador revealed its plan to build Bitcoin city backed by $1 billion in bitcoin bonds which is ready to be issued in 2022.
