El Salvador has invested more than $1.5 million in bitcoin
Salvadoran President Nayib Bukele tweeted that his team invested another $1.52 million in bitcoin this week.
Recall that last year this Latin American state was the first in the world to recognize cryptocurrency as a legal means of payment. After that, El Salvador regularly began to purchase bitcoins and announced the placement of so-called BTC bonds for $ 1 billion.
Nayib Bukele said that on the eve of the reserves of El Salvador were replenished with another 80 coins at $ 19,000 each. The Salvadoran leader thanked investors who staged a June sale, as a result of which the largest digital currency collapsed below $ 20,000.
In May, the authorities of El Salvador bought 500 bitcoins. Then each coin cost the country $30,700. After the fall in the value of BTC, El Salvador's losses from investments in cryptocurrency reached $46.1 million.
However, the government said that the country would not sell the accumulated bitcoins.
Finance Minister Alejandro Celaya admitted that the state had indeed suffered losses exceeding $40 million. However, this amount is less than 0.5% of the Salvadoran budget and there are no risks for the financial sector.
https://coin-signal.com/cryptonews/el-salvador-has-invested-more-than-1-5-million-in-bitcoin/
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