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On Thursday, El Salvador president Nayib Bukele announced on Twitter that his country purchased another 80 Bitcoin (BTC) at $19,000 per coin. A bargain, according to the ‘Bitcoin President’.
“Bitcoin is the future. Thank you for selling cheap,” Bukele shared with his Twitter followers, as he included a screenshots of 40 purchases made on Thursday in which a total of $1.52 million was spent.
The last time El Salvador’s bought the flagship cryptocurrency was in May, when the Central American country added 500 coins for a total of $15.3 million to its Treasury.
Prior to today, from the country’s first purchase of 200 BTC in September 2021, El Salvador had bought 2301 BTC, spending a total of $103.9 million. At current prices, it is worth less than half of that amount.
Be it that the country has lost more than 50%$ on its Bitcoin holdings, El Salvador Finance Minister Alejandro Zelaya commented in May his Treasury’s Bitcoin only represents less than 0.5% of its annual budget, and that there is “extremely minimal” risk to the country’s fiscal position.