{"id":53662,"date":"2021-11-27T18:25:29","date_gmt":"2021-11-27T16:25:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53662"},"modified":"2025-09-03T16:17:12","modified_gmt":"2025-09-03T13:17:12","slug":"el-salvadors-bitcoin-fund-buys-100-more-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvadors-bitcoin-fund-buys-100-more-btc\/","title":{"rendered":"El Salvador&#8217;s Bitcoin fund buys 100 more BTC"},"content":{"rendered":"<p>El Salvador&#8217;s President Nayib Bukele said that the state Bitcoin fund used the dip in the price of the first cryptocurrency to buy another 100 BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">El Salvador just bought the dip.<\/p>\n<p>100 extra coins acquired with a discount \ud83e\udd73<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> \ud83c\uddf8\ud83c\uddfb<\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1464307422793715716?ref_src=twsrc%5Etfw\">November 26, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With the new investment, the state fund&#8217;s balance stands at 1220 BTC (about $67.3 million at the rate at the time of writing).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c100 additional coins bought at a discount,\u201d Bukele wrote.<\/p>\n<\/blockquote>\n<p>On September 7, in El Salvador, <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">the law recognizing bitcoin as legal tender<\/a> came into force. At that time, authorities bought 550 BTC for the government fund to back the exchange between bitcoin and the dollar.<\/p>\n<p>On September 20, El Salvador bought <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-government-buys-150-more-btc\">an additional 150 BTC<\/a>, and on October 20 \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-state-bitcoin-fund-buys-an-additional-420-btc\">another 420 BTC<\/a>. Bukele promised to direct part of the profits from bitcoin operations to <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-to-build-20-schools-using-bitcoin-profits\">funding the construction of 20 modern schools<\/a>.<\/p>\n<p>In October, Vitalik Buterin <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-calls-el-salvadors-bitcoin-legalization-foolhardy\">criticised the legalization<\/a> of the first cryptocurrency and described the process of forcibly integrating digital assets into the financial system as &#8216;contrary to the ideals of freedom&#8217;.<\/p>\n<p>In November, Bank of England Governor Andrew Bailey <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-governor-warns-el-salvador-over-bitcoin-volatility\">reminded<\/a> El Salvador of bitcoin&#8217;s volatility. In the same month the IMF again <a href=\"https:\/\/u1f987.com\/en\/news\/imf-again-criticises-bitcoin-legalisation-in-el-salvador\">criticised<\/a> the decision to recognise digital gold as an official monetary unit.<\/p>\n<p>As of 26 November, <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-55000\">bitcoin traded down to around $53,500<\/a>. The drop over the last 24 hours was about 10%.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our Telegram \u2014 <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 news, markets, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador&#8217;s President Nayib Bukele said the state Bitcoin fund used the dip in bitcoin&#8217;s price to buy another 100 BTC.<\/p>\n","protected":false},"author":1,"featured_media":53663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1278],"class_list":["post-53662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"55","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53662"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53662\/revisions"}],"predecessor-version":[{"id":53664,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53662\/revisions\/53664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53663"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}