The Central American country now holds 1,120 BTC in its reserves. El Salvador adopted Bitcoin as legal tender on September 7. In the past two months, Bukele has ordered four BTC purchases for the country’s coffers. According to Disruptiva magazine’s estimates, El Salvador bought 200 BTC at $51,300 on September 6, then another batch of 200 BTC at $51,500. A day later, it purchased 150 BTC at $52,000, and finally, on September 19, El Salvador bought the dip, acquiring another 150 BTCat $45,700.
After racking up a portfolio at over $11 million in unrealized losses, the price of Bitcoin started to recover, reaching a new high. With this new purchase, Bukele has increased El Salvador's stated Bitcoin reserves to 1,120 BTC, at an average price of $53,324.29. With the price tag of Bitcoin at nearly $59,000, it’s made a tidy (though unrealized) return on its investment.
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