With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing.
The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value.El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670 #Bitcoin— Nayib Bukele (@nayibbukele) December 4, 2021
While Bukele’s government was able to make the purchase at $48,670 per coin, the bear market temporarily brought down the Bitcoin price to almost $42,000 after falling over 37% from its all-time high.BTC/USD market price. Source: TradingViewBukele also acknowledged missing out on purchasing Bitcoin at its bottom as he
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