El Salvador buys the dip again: 80 BTC for $19K each

El Salvador has bought the dip again. The country, where bitcoin has been legal tender since last year, buys a large number of bitcoins at almost every drop. Today is another such day as Nayib Bukele, the country’s president, announced that it has purchased another 80 BTC.

- Advertisement -

Thanks for the cheap sale

Of course, he says this again in his peculiar way – with an undertone of a true bitcoin maximalist. “El Salvador bought 80 BTC today for $19,000 each. Bitcoin is the future! Thanks for the cheap sale,” the president tweeted with a wink.

El Salvador has been buying bitcoin since the early days of its legalization in the country. This was accompanied by price increases in the beginning, as this was perhaps the biggest news for BTC last year.

Other purchases

As the price continued to fall, Bukele continued to buy. For example, as recently as May he bought 500 bitcoins at an average price of $30,744. At the time, he was confident that bitcoin was not going to fall further, as this was one of his largest purchases.

So it does say something about the current number; the purchase of 80 bitcoins. It would make sense to buy more bitcoins when the price is lower, or the president expects the bitcoin price to fall even further, so El Salvador may be able to buy even more “cheap” bitcoins.

El Salvador’s total portfolio

Nevertheless, this remains – especially for individuals – an incredibly large sum. If we do the math and multiply these 80 bitcoins by the purchase price of $19,000, we end up with a not inconsiderable $1,520,000.

After this latest purchase, the country holds a total of 2,381 BTC. This number accounts for a value of $46.7 million (if you compare it to the current price of $19,600). Thus, the latest purchase represents 3.2% of the Latin American country’s entire crypto portfolio.

Previous Articles:

- Advertisement -

Latest News

Shopify, Coinbase Launch USDC Payments; Mastercard Expands Crypto Access

Shopify and Coinbase allow merchants to accept USDC stablecoin payments, making crypto transactions easier...

Coinbase Launches Wrapped ADA and LTC on Base, COIN Hits New High

Coinbase has introduced wrapped versions of Cardano (ADA) and Litecoin (LTC) on its Ethereum...

ClickFix Attacks Surge 517% in 2025, Fake CAPTCHAs Spread Malware

ClickFix attacks using fake CAPTCHA verifications have risen by 517% in early 2025, according...

FHFA Orders Fannie, Freddie to Consider Crypto as Mortgage Collateral

The U.S. Federal Housing Finance Agency ordered Fannie Mae and Freddie Mac to consider...

Retail Investors Can Now Buy Tokenized Shares of SpaceX via Blockchain

Retail investors can now buy blockchain-based fractional shares in SpaceX through Republic. These digital tokens...

Must Read

What Are Anonymous Debit Cards And How Do They Work?

You've heard about anonymous debit cards, but what are they really? Anonymous Debit Cards are cards that let you make purchases without revealing your...