Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
  • Login
Buy crypto
Newblock
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Solana
    • Cardano
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
No Result
View All Result
Newblock
El Salvador Buys another 410 Bitcoins as BTC Plunges to Lowest Level in Months

El Salvador Buys another 410 Bitcoins as BTC Plunges to Lowest Level in Months

January 23, 2022
in Bitcoin News
402 21
0
Share on FacebookShare on Twitter

El Salvador bought the dip as the price of bitcoin plunged to a record low. President Nayib Bukele said Friday that his country has purchased 410 more bitcoins. The Salvadoran government has bought a total of 1,801 bitcoins since the cryptocurrency was made legal tender in the country.

El Salvador Buys the Dip

The president of El Salvador, Nayib Bukele, tweeted Friday that his country just bought 410 BTC for $15 million. Having paid about $36,585 per coin, Bukele wrote, “Some guys are selling really cheap.”

In the same tweet, Bukele also stated that he did not miss the dip after all. “Nope, I was wrong, didn’t miss it,” the Salvadoran president wrote in response to his own tweet on Jan. 14 that says, “I think I might have missed the dip this time.”

The price of bitcoin began a steep decline in early November last year from above $67K, based on data from Bitcoin.com Markets. BTC started the year around $47K but fell below $41K on Jan. 8. The crypto then slowly crept back up and moved sideways until Jan. 20 when it suffered a sharp decline. At the time of writing, the price of BTC is $35,713.02.

While bitcoin was moving sideways, Bukele thought he missed the dip. On Jan. 14, BTC was hovering around $43K.

Bitcoin’s price chart. Source: Bitcoin.com Markets

At the time of writing, the price of bitcoin has dropped almost 8% in the last 24 hours, more than 17% in the past seven days, and almost 29% in the past 30 days. However, it is still up 15.4% for the year.

El Salvador passed a bitcoin law making BTC legal tender alongside the U.S. dollar in September last year. Since then, it has been a regular purchaser of bitcoin.

In September last year, El Salvador bought 700 bitcoins. The country additionally bought 420 BTC in October, 100 BTC in November, and 171 BTC in December. With the latest purchase, El Salvador has bought 1,801 BTC altogether.

Earlier this month, Bukele made some bullish predictions for 2022 about bitcoin. Besides expecting the price of bitcoin to reach $100,000 this year, the Salvadoran president foresees two more countries adopting BTC as legal tender. He also said that El Salvador’s Bitcoin City will commence construction during the year and the country’s volcano bonds will be oversubscribed.

Source link

You might also like

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

March 5, 2022
Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

March 5, 2022

Related News

G7 Countries Crypto

G7 Countries, EU Taking Measures to Prevent Crypto Use to Evade Sanctions

by Editorial Team
March 5, 2022
1

G7 countries and the European Union are examining ways to stop the use of cryptocurrency by Russia to evade sanctions....

Coinbase CEO Russians Crypto

Coinbase CEO Says Ordinary Russians Use Crypto as a Lifeline as the Ruble Collapses

by Editorial Team
March 5, 2022
1

The CEO of the Nasdaq-listed crypto exchange Coinbase says ordinary Russians are using cryptocurrency as a lifeline now that their...

Bitcoin Mining Difficulty Drops

Bitcoin Miners Catch a Break as Mining Difficulty Drops for the First Time in 3 Months

by Editorial Team
March 5, 2022
1

Bitcoin miners got a small break on March 3, after the network’s mining difficulty shifted downward for the first time...

Arbitrum Treasure DAO hack

Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit

by Editorial Team
March 5, 2022
1

A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hacked on March 3 at 7:33...

Next Post
Elon Musk Criticizes Twitter — Gets Blasted for Using Tesla to Promote Crypto, Dogecoin

Elon Musk Criticizes Twitter — Gets Blasted for Using Tesla to Promote Crypto, Dogecoin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get daily news updates to your inbox!

Popular

  • crypto price analysis

    BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

    21678 shares
    Share 8671 Tweet 5420
  • Google Launches Blockchain Division

    5331 shares
    Share 2131 Tweet 1332
  • Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

    972 shares
    Share 389 Tweet 243
  • GAIMIN Brings Blockchain and NFTs to Minecraft – Press release Bitcoin News

    957 shares
    Share 383 Tweet 239
  • Coinbase exec says major Ethereum scaling improvements coming soon

    923 shares
    Share 369 Tweet 231

Recommended

Checkout.com raises $1B in Series D, bringing valuation to $40B

January 12, 2022
Vitalik Buterin to Use $100 Million From Crypto Relief’s SHIB Funds to Accelerate Covid Relief Efforts

Vitalik Buterin to Use $100 Million From Crypto Relief’s SHIB Funds to Accelerate Covid Relief Efforts

January 30, 2022
Newblock

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Navigate Site

  • Blockchain news
  • Crypto Analysis
  • Ranking
  • Media Partnerships
  • Privacy Center
  • Contact Us
  • Donate

Follow Us

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • XRP
    • Cardano
    • Solana
    • Blockchain News
    • Press Releases
    • Events
  • Analysis
    • Market Analysis
    • Price analysis
  • Ranking
  • Buy Crypto
  • Privacy Center
  • Contact Us
  • Donate

Newblock is a blockchain news service that covers bitcoin and altcoin news, technical analysis & forecasts for bitcoin price and other altcoins.
© 2022 Newblock

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.