El Salvador’s Bitcoin Fund Purchases 410 Extra BTC Amid Market Correction

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The government of El Salvador has acquired 410 BTC against the background of the recent correction of the crypto market. According to the country’s President Nayib Bukele, $15 million has been invested in the leading crypto.

The average purchase price was $36,585. Taking into consideration the last investment, the country now has 1,651 BTC ($59.1 million) on its balance sheet.

Bitcoin skeptic Peter Schiff has said that Bukele “has wasted” money and has urged him to stop buying crypto in a falling market.

“That means you wasted over $36,500 per #Bitcoin. If you want to make bad bets on #Bitcoin do it with your own money. Why didn’t you include in your tweet how many Bitcoin you HODL, and how much money you have already lost. I warned you not to buy the last dip. Don’t buy the next!”

In response, What Bitcoin Did podcast host Peter McLasso has noted that since November 2013, Schiff has repeatedly advised people to stop buying Bitcoin.

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