• Latest
  • Trending
El Salvador buys BTC worth $25 million

El Salvador buys BTC worth $25 million

October 28, 2021
Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

March 15, 2023
The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

March 15, 2023
USDC’s ‘Black Swan’ Depegging Could Have Been Avoided With Proper Regulatory Framework

Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future

March 15, 2023
Wemade announces strategic partnership with Space and Time

Wemade announces strategic partnership with Space and Time

March 15, 2023
US officials appeal protections for Voyager execs in Binance.US sale

US officials appeal protections for Voyager execs in Binance.US sale

March 15, 2023
Wemade announces Partnership with Space and Time to Power Blockchain and Gaming Services

Wemade announces Partnership with Space and Time to Power Blockchain and Gaming Services

March 15, 2023
Major British Bank Limiting Customer Crypto Payments

Major British Bank Limiting Customer Crypto Payments

March 15, 2023
Bitcoin BTC Price Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes

Bitcoin BTC Price Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes

March 14, 2023
Here’s why Binance is suspending sterling transfers

Here’s why Binance is suspending sterling transfers

March 14, 2023
  • Privacy Policy
Wednesday, March 15, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

El Salvador buys BTC worth $25 million

J_News by J_News
October 28, 2021
in Crypto Technical Analysis, Top News
0
El Salvador buys BTC worth $25 million
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


El Salvador’s total Bitcoin (BTC) haul has surpassed 1100 as the government looks to strengthen its adoption of the cryptocurrency as legal tender.

As Bitcoin price slipped below $60,000 on Wednesday, many hodlers took the opportunity to buy the dip. One of the most aggressive buyers on the day was the Salvadoran government, which reportedly scooped an additional 420 bitcoins to add to its holdings.

According to President Nayib Bukele, Bitcoins dip allowed the country to buy more BTC after a long time of waiting for the opportune time.  

“It was a long wait, but worth it,” Bukele noted on Twitter, adding that his government “just bought the dip!”

1120 BTC and counting

El Salvador made history as the first sovereign nation in the world to when it adopted Bitcoin as legal tender in September.

Despite early pitfalls related to countrywide skepticism, the implementation of the project goes on as more and more people begin to use the official wallet to transact using Bitcoin and the US dollar.

The country is also supporting Bitcoin mining by availing some green energy reserves to miners.

Notably though, is the country’s growing BTC holdings. Since its first purchase, the Bitcoin Trust has now added new coins on three occasions.

El Salvador’s last Bitcoin purchase was around 20 September when the Central American nation added 150 BTC to its coffers. Before this latest acquisition, El Salvador’s Bitcoin holdings were 700 (300 BTC in the very first purchase and another 150 BTC during Bitcoin’s summer dip).

After this latest purchase, the country’s haul is now 1120 bitcoins. At the price at which Bitcoin traded when the announcement was made, the 420 BTC cost about $25 million. In total, El Salvador’s BTC holdings are worth about $66.2 million if we go by Bitcoin’s current price of $59,124.





Source link

Related articles

Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

March 15, 2023
The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

March 15, 2023
ShareTweetShareShare
Previous Post

ChangeNOW Has Released Its New Product, NOW Wallet

Next Post

FATF Releases Updated Guidance on Crypto Covering P2P, Stablecoins, DeFi, and NFT

Related Posts

Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

Lama Technology Partners With Top European Web3 Agency to Bring Crypto into Mainstream Financial Services

by J_News
March 15, 2023
0

Lama Technology, a modern payments, and financial services technology provider, announced a strategic partnership with Lunar Strategy, a web3 growth...

The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

The Crypto App, Industry’s All-in-One Utility Platform, Raises Stakes with Its New Pro and Pro+ Services

by J_News
March 15, 2023
0

The Crypto App, an all-in-one cryptocurrency tracking, analytics and content platform, allows crypto traders and holders to advance their understanding...

USDC’s ‘Black Swan’ Depegging Could Have Been Avoided With Proper Regulatory Framework

Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future

by J_News
March 15, 2023
0

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The...

Wemade announces strategic partnership with Space and Time

Wemade announces strategic partnership with Space and Time

by J_News
March 15, 2023
0

Wemade and Space and Time want to use blockchain technology to power the next generation of GameFi. WEMIX CEO Shane...

US officials appeal protections for Voyager execs in Binance.US sale

US officials appeal protections for Voyager execs in Binance.US sale

by J_News
March 15, 2023
0

United States officials want to remove a provision included in bankrupt lender Voyager Digital’s plan to sell its digital assets...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

The 7 Best New ICOs To Buy in 2023

Join CoinStats Affiliate Program & Earn 40% of All Premium Sales

Crypto Narratives to look out for in 2023 | by Blockchain Jew | The Capital Platform | Feb, 2023

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT