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Cryptoknowmics 2022-01-22 08:30:31

El Salvador Just Bought 410 BTC for $15M

The president of El Salvador, Nayib Bukele announced the purchase of 410 Bitcoin (BTC) for $15 million in the midst of a day of sharp declines in the cryptocurrency markets, as the flagship cryptocurrency trades below $37,000, last seen during July 2021. “I was wrong, didn’t miss the Bitcoin dip. El Salvador just bought 410 BTC for only 15 million dollars, Some guys are selling really cheap,” Bukele said in a Tweet on Friday. Nope, I was wrong, didn’t miss it. El Salvador just bought 410 #bitcoin for only 15 million dollars ? Some guys are selling really cheap ??‍♂️ — Nayib Bukele ?? (@nayibbukele) January 21, 2022 With the latest addition, the total Bitcoin holding of El Salvador stands at 1801 BTC, currently valued at about $66 million. A few hours before the announcement, news was also revealed that the government of El Salvador has planned on offering small and medium-sized companies (SME) for $10 million in crypto loans during the first quarter of 2022. Acumen, a Solana-based lending platform, will be financing the initiative of the National Commission for Micro and Small Businesses (CONAMYPE) with an annual interest between 6 percent and 7 percent with a maximum of 10 percent. The platform will use stablecoins like USDC or USDT to Conamype which would then distribute to entrepreneurs through Banco Hipotecario, a government-owned bank. The entrepreneurs would then pay the loan and its interest...

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