Bitcoin-centric Central American country, El Salvador, has taken advantage of the ongoing bear market to buy 410 units of Bitcoin for around $15 million.
President Bukele called the purchase “really cheap”
Per a revelation by the country’s president, Nayib Bukele, El Salvador purchased each unit of the asset at an average price of $36,585, making it the lowest price the country has ever bought the flagship digital assets.
Nope, I was wrong, didn’t miss it.
El Salvador just bought 410 #bitcoin for only 15 million dollars
Some guys are selling really cheap
https://t.co/vEUEzp5UdU
— Nayib Bukele
(@nayibbukele) Confirming the latest purchase in a tweet, Bukele revealed that the country spent around $15 million on its latest investment. Currently, the government holds over 1800 BTCs whose current worth is roughly over $64 billion.
El Salvador became the first country in the world to adopt Bitcoin as a legal tender 5 months ago. Then, the government revealed that the decision was made in its bid to protect the developing country against rising economic issues like inflation and also help it increase remittances to its citizens.
El Salvador’s Bitcoin purchase hasn’t been smooth sailing
According to available data, El Salvador’s Bitcoin purchase hasn’t been smooth sailing as its national debt has risen to over 50% of its GDP. Apart from that, Moody revealed that its Bitcoin trades had added more risks to its sovereign credit outlook.
Apart from that, reports have emerged that El Salvador’s government has subjected journalists critical of his government to phone hacks using the Pegasus spyware. This revelation has made crypto enthusiasts question whether the administration’s actions are in tandem with the libertarian ideas being pushed by Bitcoin.
El Salvador’s purchase has drawn criticisms of citizens of the country who have protested the adoption of the asset as a legal tender citing the volatile nature of the industry as an example of why the move is wrong.
However, despite these issues, Bukele has maintained a bullish stance towards Bitcoin and earlier this year predicted more adoption amongst countries.
The post El Salvador purchases additional 410 Bitcoin for $15 million appeared first on CryptoSlate.
Check live crypto rates here
Start trading today – See our list of exchanges
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
cialis 5mg ohne rezept viagra generika viagra 100mg kaufen für männer
tadalafil 10mg ohne rezept tadalafil 20mg bestellen viagra 50mg für männer
Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2
I would like to thnkx for the efforts you have put in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing abilities has inspired me to get my own blog now. Really the blogging is spreading its wings quickly. Your write up is a good example of it.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
I appreciate, cause I found exactly what I was looking for. You’ve ended my 4 day long hunt! God Bless you man. Have a great day. Bye
You made some decent points there. I looked on the internet for the subject matter and found most persons will approve with your site.
You have brought up a very superb details, thankyou for the post.
I do accept as true with all of the concepts you have presented for your post. They’re really convincing and can certainly work. Still, the posts are too short for novices. May just you please extend them a bit from next time? Thank you for the post.
Greetings! Very helpful advice on this article! It is the little changes that make the biggest changes. Thanks a lot for sharing!