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El Salvador President Heaps Up 420 Bitcoin As Market Corrects

Nayib Bukele is the president and self-described “Emperor of El Salvador,”.

More so, He is taking advantage of market’s drop in Bitcoin prices to add up his country’s BTC reserves.

Furthermore, Bukele announces on Twitter in that he had bought the proverbial dip.
Of course, this is as BTC touches an all-time high above $67,000 last week but declines to below $60,000.

Furthermore, he buys a massive amount of 420 BTC. (420 is a meme number with the cannabis culture.)

“It was a long wait, but worth it. We just bought the dip! 420 new #Bitcoin🇸🇻”

— Nayib Bukele 🇸🇻 (@nayibbukele) October 27, 2021

Revall, in sept 7, El Salvador adopts Bitcoin as legal tender. Then, in the past two months, Bukele has four BTC purchases for the country.

As per Disruptiva magazine’s estimates, El Salvador has 200 BTC at $51,300 on September 6.
Furthermore, another batch of 200 BTC at $51,500 and also 150 BTC at $52,000

Additionally, on September 19, El Salvador buys another 150 BTC at $45,700.

More so, the portfolio hits over $11 million in unrealized losses then, Bitcoin starts recovering to reach a new high.
Currently, this new purchase, El Salvador’s Bitcoin reserves is at 1,120 BTC, at an average price of $53,324.29.

“#Bitcoin Con el precio de la criptomoneda de este día a las 8:20 a.m.,.”
“la inversión en 700 BTC que realizó El Salvador podría dejar un margen de un poco más de $10.8M.”

— Disruptiva (@Disruptiva2) October 20, 2021

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