El Salvador’s President Announces New Bitcoin Investments

El Salvador’s President Najib Bukela announced his government’s new investment in the digital currency Bitcoin worth more than $1.5 million.

“Today, El Salvador bought 80 bitcoins at a price of $19,000 for one bitcoin,” Bukela wrote on social media.

“Bitcoin is the future! And thank you for selling it at a low price,” he added.

Notably, the Salvadoran government has bought 2,381 bitcoins in the past nine months, worth over $106 million.

Based on the current bitcoin exchange rate, El Salvador’s state-run cryptocurrency fund assets are currently worth over $45 million as the price of bitcoin in the crypto market has fallen recently.

Source: RIA Novosti

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