In Brief:
- El Salvador purchased 410 more bitcoins for $15 million as bitcoin prices dipped to around $36K.
- The nation has over 1,801 bitcoins in its central reserve.
The latest market dip allowed El Salvador to accumulate 410 more bitcoins to its central reserve. The nation purchased 410 bitcoin at a huge discount as prices reach approximately $36k per bitcoin.
President Nayib Bukele confirmed the fresh addition of bitcoins via Twitter saying “Some guys are selling really cheap.” He was quite worried that his country missed out on buying cheaper bitcoin. However, with more bitcoin in its reserve, the nation now holds at least 1.801 bitcoin.
The news came as no surprise, as it’s not the first time El Salvador went on a bitcoin spree. In November, the country bought 100 bitcoins followed by another purchase of 150 more bitcoins last month.
El Salvador, the first country to adopt bitcoin as a legal tender, is always on some bitcoin adventure. Earlier this month, El Salvador Finance minister Alejandro Zelaya announced their plans of issuing Bitcoin bonds. President Bukele also revealed the Bitcoin city that will be constructed in El Salvador.
Undoubtedly, the country has fully celebrated Bitcoin in 2021. The crypto community has high hopes for this year as well, considering Bukele’s prediction of Bitcoin to hit the $100K mark in 2022.
