El Salvador continues to add Bitcoin to its Treasure

English Nov 3, 2021

Nayib Bukele, the president who describes himself as "Emperor of El Salvador," took advantage of the latest drop in Bitcoin prices to increase his country's Bitcoin reserves.

The president announced on his Twitter account that he bought the fall. The currency reached an all-time high above $67,000, but ended up temporarily dipping below $60,000. At the time of this writing the figure was back above $63,000, showing a quick recovery.

The amount of Bitcoin purchased by El Salvador was 420 Bitcoin, a meme number. El Salvador adopted Bitcoin as legal tender on 7 September. In the last two months, Bukule made four purchases for the country's coffers.

El Salvador Bukele's coffers have increased, and now declared Bitcoin reserves already contain 1,120 Bitcoins, purchased at an average price of $53,324.29.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.