Representations of the virtual currency Bitcoin and Ethereum stand on a motherboard in this picture illustration taken May 20, 2021. (File Photo: Reuters)

El Salvador buys 150 more bitcoins on first day as legal tender

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Reuters

Published: 07 September ,2021: 07:41 PM GST Updated: 07 September ,2021: 07:49 PM GST

El Salvador purchased 150 additional bitcoins on Tuesday, Salvadoran President Nayib Buekele said on Twitter, hours after the Central American nation became the world’s first to adopt the cryptocurrency as legal tender.

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Bukele said El Salvador was “buying the dip” after prices of the currency dropped sharply on Tuesday morning.

The purchase of 150 bitcoins, worth about $7 million, came after El Salvador bought 400 bitcoins worth around $20 million ahead of Tuesday’s launch.

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