Cryptocurrencies
El Salvador ‘Bought the Dip,’ Acquiring 100 More Bitcoin
- Nation had bought a total of 1,100 Bitcoin as of Oct. 27
- Country’s debt is worst in the world after Lebanon this month
Nayib Bukele during the closing ceremony of the Latin Bitcoin conference (LaBitConf) at Mizata Beach, El Salvador, on Nov. 20.
Photographer: Marvin Recinos/AFP/Getty ImagesThis article is for subscribers only.
El Salvador President Nayib Bukele said the Central American country had taken advantage the 7.7% decline in Bitcoin on Friday to purchase 100 more of the coins.
“El Salvador just bought the dip,” Bukele wrote on Twitter, almost a week after he announced the nation’s plan to sell $1 billion in tokenized 10-year dollar-denominated bonds.