El Salvador Buys 100 More Bitcoins as Crypto Market Falls
El Salvador’s President Nayib Bukele said in a tweet he bought the coins at “a discount.”
Nov 26, 2021 at 7:31 p.m. UTCUpdated May 11, 2023 at 7:08 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/KUZPN2PJ2JCI3MNAFY43UKLP7E.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
The government of El Salvador bought 100 more bitcoin, President Nayib Bukele tweeted on Friday, while the price of the largest cryptocurrency by market cap fell near $54,000.
- “El Salvador just bought the dip. 100 extra coins acquired with a discount,” Bukele said on Twitter.
- Bitcoin price fell about 8% on Friday around $54,237 as broader markets tumbled fear related to the newly discovered COVID-19 variant.
- Bitcoin officially became legal tender in El Salvador in September, three months after the country’s legislature passed the Bitcoin Law.
- On Nov. 20, during a presentation at Bitcoin Week in El Salvador, Bukele said the country is going to build an entire city based on bitcoin.
13:53
Bitcoin's Price Rallied 28% in October as Crypto Rally Widened
02:09
Key Driver Behind Bitcoin's Price Spike; California's Crypto Licensing Bill Signed Into Law
02:00
Terra Classic Community Votes to Stop USTC Minting; How Much Bitcoin Has Michael Saylor's MicroStrategy Purchased?
08:50
Robinhood Crypto General Manager Focused on 'Removing the Barrier to the Crypto Space'
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/83b3bbdb-5508-48a9-a9d9-2d7dd460fd5b.png)
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets