El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says
El Salvadaor bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.
- “Some guys are selling really cheap,” he added in his tweet.
- It is difficult to verify such claims on the public blockchain, since a buyer of a block of BTC that size would almost certainly have to buy it in smaller chunks to avoid slippage.
- Bitcoin was down about 12% late Friday to the $36,500 level as broader crypto prices also retreated.
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) January 21, 2022
- The nation now holds over 1,500 BTC and plans to issue a $1 billion, 10-year bitcoin bond this year.
- Bukele has been a consistent dip buyer over the past couple of months in a sign of confidence in the cryptocurrency’s long-term prospects.
- Bitcoin officially became legal tender in El Salvador last September, three months after the country’s legislature passed the Bitcoin Law.
UPDATE (Jan. 22, 2022, 1:06 UTC): Adds bullet point on the difficulty of verifying claims on the public blockchain.