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El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says

Bitcoin

www.coindesk.com 01 July 2022 03:25, UTC
  
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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.


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