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El Salvador Buys Bitcoin Dip, Adding 500 Coins to Holdings

  • Monday’s purchase is largest since El Salvador began buying
  • Government has purchased 2,301 Bitcoins since September
A pedestrian walks by a shop that accepts Bitcoin in San Salvador, El Salvador.

A pedestrian walks by a shop that accepts Bitcoin in San Salvador, El Salvador.

Photographer: Camilo Freedman/Bloomberg
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El Salvador’s government bought 500 Bitcoins on Monday, in its largest purchase to date of the cryptocurrency. A wider markets rout has driven Bitcoin’s price below $31,000 for the first time since July 2021. 

The government bought the coins at an average price of $30,744, President Nayib Bukele said on Twitter. The government has purchased 2,301 Bitcoins since making it legal tender in September last year, according to data tracked by Bloomberg.