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El Salvador Buys 100 More Bitcoins as Crypto Market Falls
El Salvador’s President Nayib Bukele said in a tweet he bought the coins at “a discount.”
The government of El Salvador bought 100 more bitcoin, President Nayib Bukele tweeted on Friday, while the price of the largest cryptocurrency by market cap fell near $54,000.
- “El Salvador just bought the dip. 100 extra coins acquired with a discount,” Bukele said on Twitter.
- Bitcoin price fell about 8% on Friday around $54,237 as broader markets tumbled fear related to the newly discovered COVID-19 variant.
- Bitcoin officially became legal tender in El Salvador in September, three months after the country’s legislature passed the Bitcoin Law.
- On Nov. 20, during a presentation at Bitcoin Week in El Salvador, Bukele said the country is going to build an entire city based on bitcoin.
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
