EL SALVADOR BUYS THE DIP ADDING 80 MORE BITCOINS
While central bankers (ECB, FED & BoE) said mea culpa confessing their error about the inflation… The Government of Salvador recently purchased $1.5 million worth of bitcoin at a price of $19,000/btc that is 80 more bitcoins as tweeted by the president Nayib Bukele.
It is not sure when Christine Lagarde will confess her error tagging all the blockchain revolution being worth nothing but El Salvador is still under heavy bashing from media and financial institutions worldwide because of its adoption of Bitcoin as a legal tender.
El Salvador now has a total of 2400 bitcoins with about $46 million. Over the last few months, the country paid more than $105 million to acquire the amount.
In the same time, on June 29th Microstrategy doubled down on their Bitcoin investment by purchasing $10 million at an average price of $20,817.
The recent purchase of bitcoin from these two entities shows their convictions for the long term. As Bukele said cryptocurrency is the future, and he’s appreciating its current low USD valuation now.