El Salvador Acquires 500 Additional Bitcoin Amid Market Drop

President Nayib Bukele tweeted that his country “just bought the dip.”

AccessTimeIconMay 9, 2022 at 9:03 p.m. UTC
Updated May 16, 2022 at 8:12 p.m. UTC

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

The government of El Salvador, which was the first country to make bitcoin (BTC) legal tender last fall, has continued its bitcoin buying spree with the purchase of an additional 500 tokens for roughly $15.3 million, President Bukele tweeted on Monday.

  • According to Bukele, the average price El Salvador paid for each bitcoin was $30,744. The price of bitcoin has dropped almost 10% to $31,053 over the last 24 hours.

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Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

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