El Salvador 's government bought 500 bitcoins Monday for an average price of $30,744.- President
Nayib Bukele announced the purchase on Twitter: "El Salvador just bought the dip!"
El Salvador's government added another 500
Bitcoin bull and millennial President Nayib Bukele announced the expansion of the government's bitcoin coffers in a tweet Monday: "El Salvador just bought the dip!"
—Nayib Bukele (@nayibbukele) $4
According to Bukele, the purchase was made at an average price of $30,744 per bitcoin — or about $15.5 million total. Previously, El Salvador's largest purchase was on January 21, when it bought 410 tokens for an average price of $36,585.
It's bitcoin reserves are now up to 2,301 tokens, according to $4 data.
The latest purchase came after bitcoin fell as much as 12% on Monday to dip below $30,000 amid a steep sell-off in
The nation first started adding the crypto to its government balance sheet in September 2021, when bitcoin became $4 in El Salvador.
Bukele had previously announced a $1 billion $4 which would be built next to a volcano with the intention of harvesting geothermal energy for the project. He also has said El Salvador's bitcoin profits would be used to $4.
But investors haven't flocked to the bitcoin bond, and as of last week $4.