El Salvador bought 80 additional units of bitcoin

The president of El Salvador, Nayib Bukele, announced the purchase of 80 units of bitcoin at a price of 19,000 dollars each, which brings the operation up to 1.52 million dollars.

The president reported the movement on his Twitter account, in which he emphasized that the cryptocurrency “is the future” and thanked it for “selling cheap” at a time when the virtual currency is chaining a downward streak in its price, which has already moved away more than 70 % with respect to the historical maximum reached in 2021.

Adding these new units, the number of bitcoins acquired by the Central American country amounts to more than 2,300 since last September, when the implementation of cryptocurrency as legal tender in the country was approved.

Despite the invitation from the International Monetary Fund (IMF) to eliminate bitcoin as legal tender in the country, and the agency’s warnings about the risks associated with this measure, Bukele continues with a strong defense of the cryptoactive.

However, the bonds in dollars of the Central American country seem to live a reality parallel to the president’s plans. These have lost 24 % in value so far this year, and the Government has debt maturities of 800 million in January of next year.

K. Tovar

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Source: DW