El Salvador Buys More Bitcoin: 420 BTC Added to Treasury

El Salvador bought the dip once more, taking advantage the falling bitcoin price on Wednesday. President Nayib Bukuele tweeted, “It was a long waiting, but it was worth it. We have just purchased the dip.”

The bitcoin price is currently $61,129 at the time of writing. This is down from the Oct. 19 all-time high of nearly $67,000. Data from Bitcoin.com Markets shows that it was $61,129 on October 19.

El Salvador bought two sets of 200 bitcoins the day before its Bitcoin law was implemented. The price of the dip fell slightly on Sept. 7, allowing El Salvador to purchase it (150 BTC). Bukeke stated that his country had purchased the dip once more (150 BTC) and added, “El Salvador now has 700 coins.”

El Salvador purchased 1,120 BTC total, which is more than $68.5 Million at the time of writing, with 420 new coins.

Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.