The Salvadoran government has bought some bitcoins again. President Nayib Bukele reported this. The politician wrote this information on Twitter.
We learned that the country's authorities used the recent market correction to buy 420 BTC. Now the state has 1120 BTC. Bitcoin's price dropped to $ 58,570 during this time. Earlier this month, it hit an all-time high of $ 66,976.
"It took a long time to see it, but it was worth it"
Bukele tweeted when he reported on behalf of El Salvador that we "just bought" bitcoins.
It's worth adding that the 420 bitcoins the government has now added to its balance sheet is worth around $ 24.6 million. In total, the country has cryptocurrency funds worth approximately $ 87.4 million. The country spent on average around USD 53,300 on 1 BTC.
Let us recall that El Salvador entered the crypto-asset market for the first time in September. Then he bought 200 BTC on drops. Then he bought more batches of cryptocurrencies in stages.
This year, the country has recognized BTC as a tender. With the new law, in El Salvador, bitomats were installed (today there are 200) and the citizen was persuaded to use cryptocurrencies. Every investor on the BTC market can count on privileges related to lower fuel prices and lower taxes on profits generated with digital assets.
El Salvador's head of central bank, Douglas Rodriguez, was now talking to the Bloomberg agency. He said his country was still investing in BTC, expecting bitcoin to soon cease to be a speculative asset and become a legal payment system.
"We don't see any risk," Rodriguez said. He stressed that bitcoin "will become a payment system and a financial integration system."
World Plan?
Critics of the president and his people believe that they want to turn El Salvador into a world money laundering, and bitcoin is intended only for such purposes, and not for the economic development of the country. The idea of ??the bitcoin law was also criticized by the International Monetary Fund, which emphasized that it would deepen the crisis that continues in the country.
As you can see, however, President Bukele still has a different opinion and continues cryptocurrency reforms. Soon we will probably see more purchases on BTC exchanges. So far, income from investments El Salvador has spent on ... a hospital for animals, which is to be built in the capital.
