El Salvador grabs $ 1.5 million more Bitcoin, but sits strongly in the red numbers

El Salvador grabs $ 1.5 million more Bitcoin, but sits strongly in the red numbers

el Salvador bought the Bitcoin dip again and piled up in the crypto-asset because a collapse of the market led to a severe decline in its price.

President Nayib Bukele said on Friday that the country bought 80 Bitcoin for $ 19,000, which would have a value of around $ 1.5 million. "Thank you for selling cheap", he wrote in a twitter This included screenshots of 40 transactions.

The country's last Bitcoin purchase was in May when 500 Bitcoin bought at an average price of $ 30,744 each. This increased the total stock to 2,301 bitcoins worth around $ 71.4 million at that time. After the last purchase and due to falling prices, El Salvador holds 2,381 Bitcoin worth $ 46.4 million according to the Bukele Twitter updates.

The President of El Salador is trying to "buy the dip" again, this time, since the declining market mood of the restrictive central banks and a number of large explosions of cryptocurrency companies have acted the prices near the all -time high of 2017

Bukele said that he acts Bitcoin on his cell phone on his cell phone. His first purchases were in September 2021, when Bitcoin was traded at around $ 52,000 Nayib Bukele portfolio-tracker We showed no special preference for market timing. His second largest purchase in Bitcoin was 420 BTC on October 27, 2021 when Bitcoin was traded at $ 60,345.

Due to the turbulence on the markets, El Salvador has also delayed his highly expected "volcanic bonds" - which should be emitted until March 20 - further. href = "https://elsalvadorinfo.net/conchagua-volcano-el-salvador/"> Conchagua-Vulkan .

Some industry commentators believe that the valley sole could be close. Analysts from JPMorgan said in a note on Wednesday that debt reduction, which triggered the latest crypto routine, may not last long, and referred to strong risk capital financing in the industry as a positive sign.

Chris Terry, board member and Vice President of the Smartfi loan platform, told Blockworks that he sees a “weak floor” at Bitcoin. "We may form a low point in the range of USD 20,000," he said.

"If Bitcoin had gone into the low ten-up area, $ 12,000 to $ 14,000, I would feel better. That would be a low point that I could believe in."

Les Borsai, co -founder of Wave Financial, shared this view. "Most would-be sellers have already sold, and at this point they will remain with long-term owners and many interested buyers," he said.