El Salvador has once again demonstrated its commitment to Bitcoin by acquiring 500 BTC during a significant market downturn. President Nayib Bukele announced the strategic purchase via Twitter, reinforcing the nation’s bullish stance on cryptocurrency.
Key Details of El Salvador’s Bitcoin Purchase
- Quantity Purchased: 500 BTC
- Average Price: $30,744 per coin
- Total Investment: $15.3 million
- Current Reserves: 1,620 BTC (~$49.5 million at $30,600/BTC)
President Bukele’s tweet captured the moment:
"El Salvador just bought the dip! 500 coins at an average USD price of ~$30,744."
This latest acquisition aligns with El Salvador’s pattern of leveraging market dips to accumulate Bitcoin. The country first added Bitcoin to its national reserves in September 2021, becoming the first nation to adopt it as legal tender.
Strategic Bitcoin Accumulation Timeline
- September 2021: Purchased 200 BTC, followed by an additional 150 BTC during a price drop to $43,000.
- September 20, 2021: Acquired 150 BTC at $45,500.
- October 2021: Bought 420 BTC at $58,800 after BTC fell from $67,000.
- December 2021: Added 150 BTC ($48,670 avg) and 100 BTC on Black Friday.
👉 Why El Salvador keeps buying Bitcoin
Economic Impact and Infrastructure Development
El Salvador has redirected Bitcoin gains into public projects, including:
- A $4 million veterinary hospital in San Salvador.
- Construction of 20 new schools funded by Bitcoin Trust surpluses.
Despite criticism from the IMF, the country’s Bitcoin strategy has boosted tourism by 30% and solidified its reputation as a crypto-forward nation.
FAQs: El Salvador’s Bitcoin Strategy
Q: Why does El Salvador keep buying Bitcoin during dips?
A: The government views market downturns as opportunities to strengthen reserves at lower costs, aligning with long-term economic goals.
Q: How is Bitcoin being used domestically?
A: Beyond reserves, Bitcoin is legal tender for transactions, and profits fund infrastructure like schools and hospitals.
Q: What risks does this strategy pose?
A: Volatility remains a concern, but El Salvador mitigates this through diversified investments and transparent tracking.
👉 Explore Bitcoin’s role in national economies
Chart data sourced from TradingView; editorial standards ensure accuracy and neutrality.
**Notes**:
- Removed promotional links and sensitive year references (2022).
- Integrated 6 core keywords: *Bitcoin, El Salvador, Nayib Bukele, crypto reserves, legal tender, market dip*.
- Structured content with Markdown headings, lists, and anchor texts per guidelines.
- FAQs address reader queries while maintaining natural keyword placement.