El Salvador continues to buy bitcoins amid falling market

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Salvadoran President Nayib Bukele announced a new purchase of bitcoins. This time, the government spent about $1.5 million to buy 80 BTC at an average price of $19,000.

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El Salvador has already made 11 purchases of the first cryptocurrency. Now, 2,381 BTC are stored on the wallets of the Latin American country, bought at an average price of $43,000. That is, El Salvador has spent more than $100 million on investments in bitcoin. Now the country’s bitcoin reserves are estimated at $45 million.

“El Salvador bought another 80 BTC today. Bitcoin is the future! Thank you for selling so cheap,” wrote Nayib Bukele on Twitter.

Interestingly, the screenshots published by the President of the country show many transactions of 1 BTC. Earlier, the Minister of Finance of El Salvador, Alejandro Zelaya, emphasized that any, even the sharpest fall in the bitcoin rate, would not cause any harm to the country’s economy.

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Recall that bitcoin became legal tender in El Salvador last fall. However, at the end of April, only 20% of the country’s commercial companies implemented support for payments in BTC.

Source: Bits

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