El Salvador Buys 410 Bitcoins as BTC Plunges to Lowest Level in Months
El Salvador Buys the Dip
Having paid about $36,585 per coin, Bukele wrote, “Some guys are selling really cheap.”
“Nope, I was wrong, didn’t miss it,” the Salvadoran president wrote in response to his own tweet on Jan. 14 that says, “I think I might have missed the dip this time.”
The price of bitcoin began a steep decline in early November last year from above $67K, based on data from Bitcoin.com Markets.
At the time of writing, the price of BTC is $35,713.02.
While bitcoin was moving sideways, Bukele thought he missed the dip.
At the time of writing, the price of bitcoin has dropped almost 8% in the last 24 hours, more than 17% in the past seven days, and almost 29% in the past 30 days.
El Salvador passed a bitcoin law making BTC legal tender alongside the U.S. dollar in September last year.
In September last year, El Salvador bought 700 bitcoins.
With the latest purchase, El Salvador has bought 1,801 BTC altogether.
Earlier this month, Bukele made some bullish predictions for 2022 about bitcoin.