24/01/2022 El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says
The nation now has over 1,500 bitcoins and plans to issue a $1 billion, 10-year bitcoin bond this year.
El Salvador bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.
“Some guys are selling really cheap,” he added in his tweet.
It is difficult to verify such claims on the public blockchain, since a buyer of a block of BTC that size would almost certainly have to buy it in smaller chunks to avoidslippage.
Bitcoin was down about 12% late Friday to the $36,500 level asbroader crypto pricesalso retreated.
The nation nowholds over 1,500 BTCand 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.
Bitcoinofficiallybecame legal tender in El Salvador last September, three months after the country’s legislature passed the Bitcoin Law.
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