El Salvador Acquires 500 Additional Bitcoin Amid Market Drop

El Salvador’s government, which became the first country to legalize bitcoin (BTC) last fall, continues its bitcoin buying spree by purchasing 500 additional tokens worth approximately $15.3 million. President Bukele tweeted Monday

Bukele reports that the average price El Salvador paid to buy each bitcoin was $30744. Over the past 24 hours, bitcoin’s price has fallen almost 10% to $31,053.
El Salvador appears to have made the largest bitcoin purchase so far, tenth in total.
On Jan. 21, El Salvador made its last bitcoin purchase, acquiring 410 bitcoins at an average price of $36,585 per coin.
El Salvador appears to now have around 2,301 bitcoins. This is currently worth less than $71 million.
El Salvador postponed its planned $1 billion bitcoin bond offering in March because of unfavorable market conditions, according to Finance Minister Alejandro Zelaya.
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