El Salvador has once again taken advantage of the dip to increase its portfolio, according to a tweet from the country’s president, Nayib Bukele. The country has bought a total of 80 bitcoin (BTC) at a price of $19,000 each.
El Salvador bought today 80 #BTC at $19,000 each!#Bitcoin is the future!
Thank you for selling cheap pic.twitter.com/ZHwr0Ln1Ze
— Nayib Bukele (@nayibbukele) July 1, 2022
Bitcoin is the future
In the tweet, the president shows the various proofs of purchase and thanks everyone for buying the coins so cheaply. It is clear from this that all coins were bought within a few minutes for exactly $19,000 each.
He closes the tweet with “Bitcoin is the future!“i.e. bitcoin is the future, which once again reflects the country’s confidence in bitcoin.
This was not the first time Bukele has sent out a tweet about the bitcoin purchases he has made with the country. For example, in May, he also announced that he had bought 500 BTC for an average price of around $30,700.
If we look at the purchases that Bukele has announced in the past, we can conclude that the country has bought at least 2,381 BTC. However, it is still unclear whether they were forced to sell coins from this or voluntarily.
Meanwhile, it is also clear that the country, mainly through the president, has a very bullish attitude towards bitcoin and that they do not want to just sell their coins.
Nevertheless, the finance minister of the country, Alejandro Zelaya, has indicated that he has done so. The country has had to sell some of its bitcoins in the past to support the Chivo Pets animal hospital. Zelaya added that all coins purchased now will be kept.
Not the only whale to buy additional BTC
El Salvador is not the only major player that continues to believe in bitcoin. Recently we saw that Michael Saylor and his company MicroStrategy also bought a number of coins during this dip.
Binance CEO also found some of this as we reported today.
MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin† Axle or 6/28/22 @MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin. $MSTRhttps://t.co/leQYTXn817
— Michael Saylor⚡️ (@saylor) June 29, 2022