El Salvador’s President Nayib Bukele announced that the country had bought 420 more bitcoins. He announced this on his Twitter page on October 28.
“The wait was long, but it was worth it. We just bought 420 bitcoins during the fall,” the post said.
El Salvador now has a total of 1,120 bitcoins since they were legalized as legal tender in the country on Sept. 7. Thus, it has become the first state in the world to legalize cryptocurrency.
The day before, on October 27, it was reported that the price of bitcoin fell more than $5,000 in early trading on Wednesday.
On October 20 the price of bitcoin set a new historical record, rising above $66 thousand for the first time. However, the cryptocurrency failed to continue to grow and hold on to the reached level, and it became cheaper, losing a total of 13% during the week, or about $9 thousand. At the same time since the beginning of October BTC went up by more than a third, or $15 thousand, from $43.82 thousand.
Bitcoin is a decentralized system of the same name cryptocurrency based on blockchain technology, which can be “mined” (emit) by any user, that is, a member of the system. To do this, it is necessary to create new blocks of this system.