El Salvador Buys The Dip, Adds 80 BTC To Treasury

  • El Salvador bought the dip and acquired 80 BTC at an average price of $19,000.
  • Two days ago, MicroStrategy also bought the dip to the tune of 480 BTC.
  • Nation-states and institutions continue to dollar-cost average whilst a contagion effect bores a rocky bear market.

President Nayib Bukele of El Salvador announced late yesterday evening that the country bought the dip with another 80 BTC added to the national treasury for an average cost of $19,000.

In total, El Salvador has a total bitcoin treasury of 2,381 BTC, currently valued around $46.1 million. The nation-state has slowly been accumulating bitcoin since its first bitcoin buy on September 6, 2021 when it purchased 200 BTC and became the first country in the world to hold bitcoin on its balance sheet three months after declaring bitcoin was legal tender.

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