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El Salvador takes advantage of the downturn to buy 410 bitcoin

El Salvador reveals purchase of new bitcoin
Photo: Reproduction/Yahoo Finances – President of El Salvador, Nayib Bukele, claimed to buy new bitcoins and even made a joke on the social network
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Recently, Nayib Bukele, the president of El Salvador, expressed great concern that his country had missed the opportunity to buy bitcoins at lower prices than usual. However, the token's latest drop in value allowed the country to accumulate another 410 BTC.

The Central American country has sought to become the nation of bitcoin since last year, when it became the first country in the world to adopt the main cryptocurrency as the legal and main currency within its territory and started to take several initiatives so that the population adopt the token for good, in addition to frequently buying more bitcoins.

The country’s total investment in the token is valued at $10 million less as of early January, and President Bukele has spoken out about being concerned that the country will not be able to buy more BTC during the recent market crashes.

This week, Bitcoin has fallen in value, reaching the level of $40.000, but then it showed up, worth about $44, but it did not hold the highest value for a long time and fell again in recent days, losing nearly $9.000 in value in two days.

With this fluctuation in value, El Salvador made one of its biggest purchases to date, as announced by Bukele. Overall, the country bought 410 BTC worth approximately $15 million. In a post on Twitter, the Salvadoran president spoke about the feat.

I think I may have missed the opportunity this time,” he wrote on January 14, but later expressed himself again on Twitter. “No, I was wrong, I didn't lose. El Salvador just bought 410 bitcoins for just 15 million dollars. Some guys are selling it too cheap,” Bukele posted.

However, El Salvador's total investment in BTC is still seen by experts as in the red, as top estimates show that El Salvador has lost around $20 million in recent days.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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