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The Salvadoran Bitcoin fund purchased 100 BTC more

Industry News

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El Salvador keeps things clear when it refers to Bitcoin – the country is going to continue paving the crypto path, as the government understands digital currencies led by Bitcoin protective assets to reach financial stability.

Nayib Bukele, the Salvadoran president, announced that the governmental Bitcoin fund purchased 100 more BTC, getting profits from the market down. Within the last two days, Bitcoin lost 9.5% of its price, the Salvadoran Bitcoin fund hasn’t missed an opportunity.

Bukele commented on the news in his Twitter account: “El Salvador just bought the dip. 100 extra coins acquired with a discount.”

For a total, the Bitcoin fund of El Salvador stores 1220 Bitcoins (equal to $69.53 million at the moment of writing).

Since the Bitcoin adoption as a legal tender on September 7, the national crypto industry has undergone explosive growth. As of today, 46% of Salvadoran citizens have Bitcoin wallets, while the number of installed Bitcoin ATMs reached 205 machines – the country debuted in the top-3 ranking according to this index.

In 2021, the Salvadoran inflation rate reached its 10-year high index which forced the government to join the progressive side of economic innovations.

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