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Amidst a huge market sell off where Bitcoin (BTC) reached a low of as much of 50% of its all-time high, Bitcoin nation El Salvador reacted and bought the “dip”, good for 410 Bitcoin.
Where the country’s president Nayib Bukele last week said he accidentally missed out on the dip, he corrected his statement on Friday by sharing that the nation added a new stash of BTC to its totals for an additional $15 million. In his announcement on Twitter, the Bitcoin president added that “some guys are selling really cheap”.
Bitcoin was down to as much as $36,500 the moment that Bukele shared the news on Twitter.
El Salvador now owns over 1500 BTC, with the track record of being a consistent dip buyer. The country is all-in on Bitcoin after it made the top cryptocurrency legal tender in September of last year. The construction of its geothermal powered Bitcoin City will be commencing any time and the country has issued $1 billion worth Bitcoin bonds, which are already oversubscribed.