On 07-Sep-2021, President Nayib Bukele announced that El Salvador bought 400 BTC for $20.9M. On 08-Sep-2021, El Salvador bought 150 Bitcoins, bringing the total to 550 BTC.
“We just bought the dip. 150 new coins! El Salvador now holds 700 coins," Nayib Bukele, tweeted on 20-Sep-2021. For this purchase, it is reported that El Salvador paid $6.4M.
Taking the price now at $54,622, that dip of 150 BTC is now $8.2M. That means the dip has gained $1.8M.
Even the original purchase of 400 BTC, which was $20.9M. Now the value has reached $21.8M.
Actually not only El Salvador, but whales had been accumulating a lot of Bitcoin in September. Microstrategy bought 5,050 Bitcoin on 14-Sep-2021, which have also now gained a significant returns. We know they bought at around $48,000 for that day so the gain has to be $6,622 per coin. That’s a huge amount considering the size of the purchase.
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