The last purchase by the Central American country had been in May.Read MoreFeedzy
El Salvador purchased 80 bitcoin at $19,000 each, President Nayib Bukele said on Thursday.
“Bitcoin is the future. Thank you for selling cheap,” Bukele tweeted, and accompanied the text with screenshots of 40 purchases made on Thursday, which totalled $1.52 million.
El Salvador’s last bitcoin purchase was in May, according to Bukele, when the Central American country acquired 500 coins for a total of $15.3 million, at a price of $30,744 each.
According to CoinDesk data based on Bukele’s announcements, El Salvador is 55.03% down on its bitcoin bet. From September to date, the country has acquired 2301 coins for a total of $103.9 million, but its portfolio is currently worth $46.6 million.
In May, El Salvador Finance Minister Alejandro Zelaya said that the bitcoin amount the country had at that time represented less than 0.5% of its annual budget, adding that the bitcoin losses posed “extremely minimal” risk to the country’s fiscal position.
Read more: El Salvador Postpones Bitcoin Bond: Report
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Bitcoin is facing a critical juncture as its macro retracement converges with a tight mid-range…
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the…
Bitcoin’s bearish momentum has since reached a cool-off state, as price maintains above the last…
Executive John Ameriks emphasized Vanguard's core view of the crypto sector hasn't changed, seeing the…
The recommendation is in line with other global asset managers like BlackRock and Bank of…
The Bitcoin market is experiencing a gradual trend reversal following weeks of prolonged price correction…