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El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

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El Salvadaor purchased 410 bitcoin for $15 million Friday, the nation’s President Nayib Bukele mentioned on Twitter.

  • “Some guys are selling really cheap,” he added in his tweet. Bitcoin was down about 12% late Friday to the $36,500 stage as broader crypto costs additionally retreated.
  • The nation now holds over 1,500 BTC and plans to problem a $1 billion, 10-year bitcoin bond this 12 months.
  • Bukele has been a constant dip purchaser over the previous couple of months in an indication of confidence within the cryptocurrency’s long-term prospects.
  • Bitcoin formally grew to become authorized tender in El Salvador final September, three months after the nation’s legislature handed the Bitcoin Law.

Read extra: El Salvador Plans to Offer Crypto-Based Loans for SMEs

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