Bukele announces purchase of another 150 bitcoin

The President of the Republic, Nayib Bukele, announced on Friday night on his Twitter account the purchase of 150 more bitcoins at an average price of $ 48,670, so this acquisition would have meant a disbursement of $ 7.3 million for the country.

With this, El Salvador would accumulate a total reserve of 1,370 bitcoin, since it was adopted as legal currency at the beginning of September, after the purchases made in that month, which in total totaled 700; those of October (420) and those of November (100).

Although the Government has not systematically specified the prices and commissions with which it has acquired cryptocurrencies, approximate calculations taking into account the hours of the advertisements and the prices at those times allow us to conclude that the country has spent an approximate of $ 70.7 on these acquisitions millions.

The authorities have also not revealed who made these purchases or which is the institution that, on behalf of the Government of El Salador, makes those purchases that are paid for with public funds.

The purchase communicated yesterday by the president takes place within the framework of a sharp drop in the price of the cryptocurrency that plummeted more than 18% in a period of 24 hours. This Saturday, bitcoin remained at the $ 48,000 level, after its price fell to $ 46,000 at dawn, far from the almost 57,000 with which it began on Friday.

According to market analysts, the sharp fall in the virtual currency coincides with the greater aversion to risk assets derived from the identification of the omicron variant of covid-19, which affected global markets last week, therefore it could imply for the world economic reopening.

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