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Evening Standard

Business

Simon Hunt

El Salvador spends $15 million on bitcoin to ‘buy the dip’

Bitcoin El Salvador Nayib Bukele Cryptocurrency Crypto

Bukele announced plans to build a “bitcoin city” at the base of a volcano late last year.
(Picture: AFP via Getty Images)

El Salvador has spent $15.4 million buying bitcoin as the price of the world’s biggest cryptocurrency drops.

President Nayib Bukele, a vocal bitcoin supporter, said on Twitter his government has purchased 500 coins at an average price of $30,744 each.

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