El Salvador has added to its bitcoin holdings by acquiring another 150 coins.

Following a new purchase, the first country to officially embrace bitcoin currently possesses 700 coins, according to the country’s president. BTC’s price has plummeted to $45,000, making this another “buy the dip” opportunity.

On September 20th, El Salvador’s president, Nayib Bukele, turned to Twitter to announce that the country had purchased the dip by acquiring 150 new bitcoins.

BTC has dropped from over $48,000 yesterday to slightly around $45,000, indicating that El Salvador has taken advantage of the reduced rates.

The most recent purchase follows a series of prior ones, the first of which occurred on September 6th. El Salvador purchased the first 200 bitcoins on that day, right before bitcoin became legal money within the country’s boundaries.

President Bukele stated that “they can never beat you if you buy the dips,” and that this was presidential advice.

As previously stated, El Salvador became the first country to legalize the main cryptocurrency on September 7th, even though numerous other countries have toyed with the concept since then.

El Salvador has also offered certain incentives to individuals who want to utilize bitcoin to encourage wider acceptance and investment.

Citizenship may be purchased for 3 BTC by foreigners. Furthermore, Bukele’s legal counsel, Javier Argueta, stated that international investors would not be required to pay taxes on bitcoin income.


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