El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
The last purchase by the Central American country had been in May.
Jul 1, 2022 at 1:41 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/B7YTP27TDJHHJL73HVRJDGEYSU.jpg)
El Salvador President Nayib Bukele. (Ulises Rodriguez/APHOTOGRAFIA/Getty Images)
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El Salvador purchased 80 more bitcoin (BTC) at $19,000 each, President Nayib Bukele said on Thursday.
- “Bitcoin is the future. Thank you for selling cheap,” Bukele tweeted, and accompanied the text with screenshots of 40 purchases made on Thursday that totaled $1.52 million.
- El Salvador's last bitcoin purchase was in May, according to Bukele, when the Central American country acquired 500 coins for a total of $15.3 million, at a price of $30,744 each.
- According to CoinDesk data based on Bukele's announcements, El Salvador is 55.03% down on its bitcoin bet. From September to date, the country has acquired 2,301 coins for a total of $103.9 million, but its portfolio is currently worth $46.6 million.
- In May, El Salvador Finance Minister Alejandro Zelaya said the bitcoin amount the country had at that time represented less than 0.5% of its annual budget, adding that the bitcoin losses posed “extremely minimal” risk to the country’s fiscal position.
Read more: El Salvador Postpones Bitcoin Bond: Report
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Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.
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