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El Salvador buys a smokin' hot 420 more Bitcoin
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The President of El Salvador, Nayib Bukele tweeted earlier today that his government has taken advantage of the recent Bitcoin price drop and added 420 additional BTC to the nation’s stash.
“It was a long wait, but worth it,” he tweeted, “We just bought the dip!”
Shortly after he tweeted: “We’re already making a profit off the #Bitcoin we just bought.” During the time between the tweets, the value of the country's Bitcoin grew by around 0.4% or $100K.
How do we make a profit if 1 #BTC= 1 #BTC?We have a trust fund accounted in USD, but the trust is funded by both USD and BTC.When the BTC part revalues in comparison to the accounting currency (USD), we are able to withdraw some USD and leave the trust with the same total.
Many onlookers online
Read more on cointelegraph.comAbout this in other media
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