400 More Bitcoins Purchased By El Salvador

Snapshot

• 410 Bitcoins worth $15 million were bought by El Salvador on Friday.  

In a recent tweet, the President of El Salvador, Nayib Bukele informed about the acquisition of 410 more Bitcoins (BTC) at $15 million. He also informed that as the prices of Bitcoin have fallen, people are looking to sell their holdings.  

On Friday, BTC was down by 12% and was trading around $36,500.  

El Salvador now has a Bitcoin holding of 1500 BTC and is also planning to issue a $1 billion Bitcoin bond for 10-years, this year according to resources.

Bukele has been a consistent buyer of Bitcoin during a dip in the last few months, showing huge confidence in the long-term prospects of the cryptocurrency. 

El Salvador accepted Bitcoin as a legal tender last year in September, three months after the Bitcoin law was passed by the legislature of the country.  

Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.

Photo by – MichaelWuensch on Pixabay