El Salvador Buys Another 500 Bitcoin Amid Market Pullback
As the market bleeds, President Bukele spends another $15 million of his country’s funds on Bitcoin.El Salvador president Nayib Bukele has announced another Bitcoin purchase amid the current crypto market turmoil.Over Twitter, Bukele claimed to have bought exactly 500 Bitcoin for an average of $30,744 dollars each on Monday.
The president, who has admitted to making Bitcoin buys from his phone using the country’s money, referred to the purchase as “buying the dip”.As of today, Bitcoin has closed its 6th consecutive red weekly candle for the first time since 2014.Bitcoin collapsed as low as $31,000 earlier today, wiping $300 million in open interest from the crypto markets within an hour. It now trades even lower at $30,972 at the time of writing.
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