El Salvador’s President Nayib Bukele thinks the U.S. government’s plan to sell 69,370 Bitcoins, which are worth about $6.7 billion, is a good chance to buy Bitcoin for less money.
The U.S. Department of Justice (DOJ) recently got permission from a federal judge to sell these Bitcoins, which were taken from the Silk Road dark web marketplace.
In a tweet, Bukele said, “Maybe we’ll all get the chance to buy Bitcoin at a discount.” He made this comment because the sale could bring more Bitcoins to the market, which might lower prices.
At that time, Bitcoin cost $93,360, which was down by 2.1% in the last 24 hours. Even with the drop, Bukele still believes that Bitcoin’s value will go up in the future.
El Salvador has amassed a huge Bitcoin reserve since making Bitcoin a legal tender in 2021. The country, as of today, holds 6,022 Bitcoins, worth approximately $557 million. The Bukele government has shown no shyness in continuing to repurchase more Bitcoin, especially when prices drop. In the first week of 2025, the country added 18 Bitcoins, among them 11 BTC purchased on January 9.
El Salvador’s strategy is simple: just buy more Bitcoin when the prices go down. Bukele wants to grow the country’s Bitcoin reserves over time and views it as a long-term investment.
However, this plan changed after the country made a deal with the International Monetary Fund (IMF), so that businesses could choose whether to accept Bitcoin instead of being required to do so.
The U.S. is getting ready to sell a lot of Bitcoin, which means the market would experience a lot of volatility. But this does not scare Bukele, as he plans to keep investing in Bitcoin as a valuable asset for El Salvador.
Also Read: U.S. Government Moves Silk Road Bitcoin in Test Transaction
