Amidst extreme fear in the market with Bitcoin dipping 42% from its highest closing price- the cheapest since August 2021, El Salvador, the first country to adopt Bitcoin as Legal tender just purchased 410 BTC for $15 million.
El Salvador’s president Nayib Bukele also bought a dip in September when he announced on Twitter that the country had ‘purchased the currency really cheap.’
El Salvador’s recent purchase has brought their total hold ings to 1,801 BTC which is currently valued at $66million.
If you are new to the crypto space, you would find our beginners guide to cryptocurrency helpful.
Emmanuella Elenbalu is the Content Manager at Coinsem. She is passionate about cryptocurrency, investment, and learning new things.