President Nayib Bukele announced the move on his Twitter account tweeting “Bitcoin is the future! Thank you for selling cheap.” Bukele’s government purchased 80 Bitcoins at $19,000 apiece. That is less than half the average price paid for its previous $105.6 million stake.  According to the tracking site nayibtracker.com, El Salvador has paid an average of almost $46,000 per coin, for a loss of 56%, or around $59 million. The president says he is confident in Bitcoin will continue to buy and hodl through the coming recession..

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