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. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/KUZPN2PJ2JCI3MNAFY43UKLP7E.jpg)
Nayib Bukele, President of El Salvador (Michael Nagle/Bloomberg/Getty Images)
Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
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.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
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