El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says

The nation now has over 1,500 bitcoins and plans to issue a $1 billion, 10-year bitcoin bond this year.

El Salvador President Nayib Bukele (Michael Nagle/Bloomberg via Getty Images)

El Salvadaor bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.

“Some guys are selling really cheap,” he added in his tweet. Bitcoin was down about 12% late Friday to the $36,500 level as broader crypto prices also retreated.

The nation now holds over 1,500 BTC and plans to issue a $1 billion, 10-year bitcoin bond this year.
Bukele has been a consistent dip buyer over the past couple of months in a sign of confidence in the cryptocurrency's long-term prospects.
Bitcoin officially became legal tender in El Salvador last September, three months after the country’s legislature passed the Bitcoin Law