The price of bitcoin dropped below 30,000 euros last night. With this drop, El Salvador saw the opportunity to buy the dip. The country’s president has no ‚paper hands‘ and, in addition to this purchase, is showing off the new plan for Bitcoin City – a city, at the foot of a volcano, that is entirely dedicated to bitcoin.
Purchase of 500 bitcoin
El Salvador’s president, Nayib Bukele, announced last night that El Salvador has once again bought the dip. He said it was a purchase of 500 bitcoin at a price of 30,774 dollars (29,150 euros). This comes down to a total price of around 15.4 million dollars (14.6 million euros).
Bitcoin City
The president posted some pictures of Bitcoin City on Instagram last night. This will be a city built right next to a volcano. The aim is for it to run entirely on bitcoin and to get its energy mainly from the volcano.
In the photo Bukele shared, we see a model of the city. It is a kind of circle with a large bitcoin square in the middle. Despite the falling bitcoin price, he is happy to share it. „Bitcoin City looks beautiful.“ the president told his Instagram followers.
#Bitcoin City is coming along beautifully ❤️ pic.twitter.com/A6ay8aAREW
— Nayib Bukele (@nayibbukele) May 9, 2022