El Salvador buys 150 more as Bitcoin plummets below $50,000

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[Blockchain Today Correspondent Han Ji-hye] As the price of bitcoin plummeted, El Salvador bought an additional 150 bitcoins. After hitting an all-time high of $68,000 in the first week of last month, Bitcoin is now down to $48,000.

According to a Cointelegraph report on the 4th (local time), El Salvador’s President Nayib Bukele announced that he had bought 150 BTC after the bitcoin price momentarily fell below $50,000 and fell more than 15%.

According to the announcement, the Bukele government bought Bitcoin for $48,670 each. Since then, the price of Bitcoin has temporarily dropped to $42,000, down more than 37% from its all-time high.

Bukele also tweeted that he “missed the low by 7 minutes” and that he failed to buy bitcoin at the low.

The purchase brings El Salvador’s current Bitcoin holdings to 1,270 BTC, which is currently worth nearly $60.3 million. Earlier, on October 28, President Bukele announced that he had bought 420 bitcoins in a temporary bear market.

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