El Salvador bought 500 BTC on Monday, according to its president, Nayib Bukele.
"El Salvador just bought the dip," Bukele said in a post on Twitter. "500 coins at an average USD price of ~$30,744."
El Salvador just bought the dip!— Nayib Bukele (@nayibbukele) May 9, 2022
500 coins at an average USD price of ~$30,744 🥳#Bitcoin
The South American adopted bitcoin as legal tender last year and has since accumulated the cryptocurrency through a series of announced purchases. Based on past announcements, El Salvador has bought more than 2,000 BTC.
Bitcoin's price has fallen sharply in the past 24 hours. At press time, the cryptocurrency is trading at $31,780 on Coinbase, according to TradingView data.