El Salvador buys Bitcoins worth $15m amid market dip
El Salvador is the first country to adopt bitcoin as legal tender
San Salvador: El Salvador President Nayib Bukele, who’s known to “buy the dip” amid Bitcoin selloffs, did not disappoint crypto-enthusiasts on Friday by revealing that the Central American country purchased more of the cryptocurrency as it fell around 11 per cent.
“Some guys are selling really cheap,” he wrote on Twitter, adding that the country had purchased 410 Bitcoin for $15 million.
According to Bukele’s tweets, El Salvador - which made the cryptocurrency legal tender alongside the US dollar from September 7 - had bought at least 1,391 Bitcoin before Friday.
Bukele’s announcement was followed by additional declines of the cryptocurrency, with Bitcoin falling below $36,000 for the first time since July in late Friday US trading.