El Salvador has bought 80 bitcoins (BTC) at USD 19,000 per unit, President Nayib Bukele announced on Twitter. The Central American country now has 2,271 bitcoins as part of its national treasure, as the president showed in a graphic that he added to his message.
The price of bitcoin reflected in dollars fell below USD 20,000, maintaining a permanent decline in recent weeks. Something that Bukele interprets as a great buying opportunity. Thanks for selling cheap. wrote in the tweet in which he also points out that cryptocurrency is the future.
In this way, the Salvadoran president sets aside the critics who have accused him of the loss of more than USD 40 million of the national reserves due to the drop in the price of bitcoin.
In fact, In May of this year, the country bought 500 bitcoins at an average price of USD 30,744. and that investment has not reflected profits until now, on the contrary, it has been diminished.
However, recently the Minister of Finance of El Salvador, Alejandro Zelaya clarified that Bukele’s critics “speculate with an alleged loss of USD 40 million that has not occurred, because we have not sold the coins, they have not been disposed of”, as as CriptoNoticias previously reported.
The country with more than 6 million inhabitants and with 70% of its unbanked population, maintains a buy and hold strategy as do the great defenders of bitcoin.
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However, in the midst of a bear market, Bukele has also had to put a series of plans on hold, such as the launch of his volcano bonds backed by the leading cryptocurrency to finance the construction of a Bitcoin City.