Salvadoran President Nayib Bukele 🇸🇻 Buys Bitcoin Again

ROI Overload Business, Tech & Finance Newsletter

If you enjoyed the newsletter, please share it with a friend who’d find it useful.

-Scott

Share ROI Overload


Salvadoran President Nayib Bukele 🇸🇻 Buys Bitcoin Again

(Image Source)

El Salvador continues to leverage the dip in Bitcoin prices as the Salvadoran President Nayib Bukele purchased 150 BTC when the asset’s price slipped below $50,000, effectively losing more than 15% in market value. 

The precise buying price was $48,670 per coin. With the purchase of 150 BTC, El Salvador’s Bitcoin reserve has touched 1,270 BTC. 

As we already know, El Salvador has announced Bitcoin City, to be funded by $1 billion Bitcoin bonds. Apart from disseminating digital and technological education, the entire city will have provisions for Geothermal energy along with efficient and sustainable public transport. 

The city will also host the crypto exchange Bitfinex and Adam Back’s Blockstream. Bukele believes his initiatives would soon draw many local and foreign digital assets companies to the country. 

This episode is for paid subscribers