Central American nation El Salvador has added another 410 BTC to its Bitcoin stash as BTC price slips below $37,000.
El Salvador’s president, Nayib Bukele, tweeted on Friday that the country has acquired 410 BTC for $15 million – a time when there is a massive sell-off.
Bukele’s tweet comes in response to his previous post back on January 14 about missing the dip, which he didn’t miss.
“Nope, I was wrong, didn’t miss it.
El Salvador just bought 410 #bitcoin for only 15 million dollars
Some guys are selling really cheap,” he tweeted.
At the time of writing, Bitcoin is trading below $36,000, hitting a 6-month low.
Despite the criticism faced by the government, individuals, and financial regulators for adopting Bitcoin as a legal tender, El Salvador does not care and is not showing any sign of backing down as it keeps on making Bitcoin moves.
Since declaring Bitcoin a national currency alongside the US dollar back in September, the Central American nation now has more than 1800 BTC in its portfolio.
President Bukele is very optimistic about the leading cryptocurrency as he keeps accumulating more of it for his country.
Meanwhile, he has previously made separate announcements that El Salvador will be constructing a pet hospital and 20 Bitcoin schools using proceeds from its Bitcoin investments and not taxpayers’ money.
100k BTC?
The Latin American nation could be buying BTC dips with the belief its price will get to an all-time high of $100,000 this year.
Earlier this month, President Bukele made some bullish predictions on Bitcoin. One of them was to see a $100,000 BTC price anytime in 2022.
He also predicted that the construction of its planned world’s first Bitcoin City will commence this year.
The Bitcoin City project will be built at the base of a volcano and backed by $1 billion bitcoin bonds, which he also predicted will be oversubscribed.
Other predictions he also made about Bitcoin this year include the leading cryptocurrency being a major issue in the U.S election, two other countries adopting it as a legal tender.
Source: https://coinfomania.com/el-salvador-bought-another-bitcoin-dip-worth-15m/#utm_source=rss&utm_medium=rss&utm_campaign=el-salvador-bought-another-bitcoin-dip-worth-15m