The government of El Salvador has announced that it has added 80 BTC to its treasury

El Salvador made headlines last year when it became the first nation to make bitcoin legal tender inside its borders. Recently, the country made news again when President Nayib Bukele announced that El Salvador had used the ongoing cryptocurrency market crash to increase its crypto stash with an additional 80 bitcoins. The amount was bought at a price of $19,000 per coin, meaning that El Salvador spent a little over $1.5 million.
This latest purchase brings the total number of bitcoins owned by El Salvador to 2,381. To acquire this amount over the past several months, the country has paid over $105 million. However, due to the current downturn in the market, El Salvador now sits on nearly $60 million in unrealized losses.
Finance Minister Alejandro Zelaya recently stated that he does not believe that these losses will have a significant impact on the country's fiscal health: "When they tell me that the fiscal risk for El Salvador because of Bitcoin is really high, the only thing I can do is smile. The fiscal risk is extremely minimal." Despite these losses, it appears that El Salvador remains committed to investing in cryptocurrencies. With bitcoin now legally recognized as tender within its borders, it seems likely that we will see even more investment from the Central American country in the future