President of El Salvador buys $ 15 million worth of Bitcoin

President of El Salvador buys $ 15 million worth of Bitcoin. El Salvador, the world’s first official currency, has bought 410 more Bitcoin. 

El Salvador has bought $ 15 million as Bitcoin prices plummeted, President Benedict XVI said on Twitter. “Some people are selling really cheap,” he wrote in his tweet. El Salvador, a Central American country, bought 410 bitcoins for $ 15 million just after Bitcoin prices fell from $ 42,270 in the past few days to $ 35,000 worth of Bitcoin.

El Salvador currently owns more than 1,500 bitcoins and is preparing to launch a $ 1 billion 10-year Bitcoin Bond for the Bitcoin City project later this year, according to CoinDesk. Since the beginning of September last year, Alberto has announced that it will officially accept Bitcoin, a digital currency, along with the US dollar. It also became the first country in the world to accept cryptocurrency as its official currency.

The day before Bitcoin was officially recognized as the official currency. The government of El Salvador bought more than $ 400 million in Bitcoin for more than $ 20 million. According to Coin Marketcap, the Bitcoin price peaked at over $ 66,000 in November last year. But is currently falling to around $ 36,000.

El Salvador recognizes Bitcoin as its official currency, as well as building Bitcoin City with volcanic energy. Bitcoin ATMs Creating a Chivo Bitcoin Wallet for Citizens to Buy and Sell Bitcoin By issuing Bitcoin bonds, we are implementing the Bitcoin currency system as a strategic process.

The International Monetary Fund (IMF) has warned. El Salvador’s legalization of the cryptocurrency could pose a serious threat to the country’s economy. India and Russia use cryptocurrencies; Proposals made to ban activities such as mining.