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- Nayib Bukele is the President of El Salvador, the very first country that adopted Bitcoin as the legal tender back in 2021.
- Recently, Nayib Bukele bought more Bitcoin to increase the country’s BTC holdings in the treasury.
- Currently, Bitcoin was trading at the market value of $19,463.53, bullish by 2.07% during the past 24 hours.
More Bitcoins In El Salvador’s Pocket
Nayib Bukele, president of the South American nation, thinks highly of Bitcoin, or he really doesn’t care that his money has vanished, given the current crypto market conditions.
Unaffected by the fact that Bitcoin might cause their funds to bleed in such circumstances, he made the announcement that he has acquired Bitcoin worth 1.5 Million.
He took to Twitter where he wrote that the nation has taken over 80 Bitcoins at the price of a $19,000 power piece. He further said that he is thankful as he got the future at such a cheap price.
Before this addition in El Salvadoran BTC stash, Nayib Bukele has spent $104 Million to take over 2,301 BTC at an average value of $45,171, as per his Twitter posts.
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When Bitcoin arrived at the painful low of $19,000 El Slvador’s Bitcoin holdings were valued at $43,719,000, indicating that the nation received a blow of $60.2 Million.
With this Bitcoin acquisition, Nayib Bukele brought the average down from $45,171 to $44,219. From this position, BTC needs to go by leaps and bounds to reach $44,219, so that the investment made by the president on the nation’s behalf, is recovered.
Nayib Bukele remains frequently in the news, usually associated with “buying the dip,” showing how much faith Nayib Bukele has in the crowned asset.
Many expect Bitcoin will reach $100K in future at some point. If this happens, it will make the investment made by El Salvador just double than what they have invested.
At the time of publishing of this article, Bitcoin was trading at the market value of $19,463.53, uptrending by 2.07% during the past 24 hours.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
