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El Salvador Purchases More Bitcoin

ByLouis Adams

Jan 24, 2022 #Bitcoin
Reading time: < 1 minute

The President of El Salvador, Nayib Bukele, has announced via Twitter that his team has taken advantage of the fall of the cryptocurrency and has purchased another 410 coins. This has happened when the BTC price fell at about $35,259.

The country has spent around $15 million in this transaction. The country’s president Bukele has regretted not buying Bitcoins at such a low price earlier.

The President of El Salvador has also promised that the country will continue to buy the asset that in the future in spite of the advice of international financial organizations to repeal the law on the legalization of BTC as a payment instrument.

The International Monetary Fund (IMF) and the World Bank have urged El Salvador to repeal this law, which undermines its financial stability.