El Salvador Buys The Wild Bitcoin Dip With 500 BTC Purchase

This article is from bitcoinmagazine.com and the original article can be read here

El Salvador Buys The Wild Bitcoin Dip With 500 BTC Purchase

  • El Salvador bought the dip with a purchase of 500 BTC.
  • The BTC purchase bolsters the already stacked reserves of El Salvador with a total of 2,301 BTC currently valued at $72 million at time of writing.
  • President Bukele has a proven track record of dip-buying bitcoin during flash crashes.

El Salvador just bought the wild Bitcoin dip today with a 500 BTC purchase, at an average price of $30,744, according to a tweet from President Nayib Bukele.

The total purchase price comes to $15.3 million adding to the growing bitcoin reserves of El Salvador. With a cumulative 2,301 BTC the total reserves currently sit at $72 million with the current price of BTC hovering at $31,600, down from the all-time-highs of over $67,000.

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