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El Salvador’s Bitcoin-boosting leader buys $1.5 million more

yonkershonda.com / CC BY-SA 2.0

SAN SALVADOR, El Salvador (AP) — El Salvador’s Bitcoin-boosting president is back at it, doubling down on his country’s losing investment in the cryptocurrency by buying over $1.5 million more. President Nayib Bukele wrote on his Twitter acount Thursday after posting the purchase: “Bitcoin is the future! Thank you for selling cheap.” Bukele said his government purchased 80 Bitcoins at $19,000 apiece. That is less than half the average price the government paid for its previous $105 million stake. According to the tracking site nayibtracker.com, starting last September, El Salvador has paid an average of almost $46,000 per coin, for a loss of 56%, or around $59 million.

Article Topic Follows: AP National Business

Associated Press

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