El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

El Salvadaor bought 410 bitcoin for $15 million Friday, the countryโ€™s President Nayib Bukele said on Twitter.

  • โ€œSome guys are selling really cheap,โ€ he added in his tweet. Bitcoin was down about 12% late Friday to the $36,500 level as broader crypto prices also retreated.
  • The nation now holds over 1,500 BTC and plans to issue a $1 billion, 10-year bitcoin bond this year.
  • Bukele has been a consistent dip buyer over the past couple of months in a sign of confidence in the cryptocurrency’s long-term prospects.
  • Bitcoin officially became legal tender in El Salvador last September, three months after the countryโ€™s legislature passed the Bitcoin Law.

Read more: El Salvador Plans to Offer Crypto-Based Loans for SMEs



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