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
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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