The government of El Salvador purchased 100 more bitcoin, as the price of the largest cryptocurrency dropped to around $54,000, according to a report by Coindesk on Friday.

  • Bitcoin price tumbled nearly 8% to around $54,237, as the largest markets plunged on new COVID-19 variant fears.
  • Reports of the South African COVID-19 variant lead to widespread market sell-offs, with nearly all cryptos falling by around 10%.
  • Bitcoin became the legal tender in El Salvador in September, three months after the country’s parliament passed the Bitcoin Law.

On November 20, President Bukele announced plans of building an entire city based on Bitcoin during a forum at Bitcoin Week in El Salvador. BTC USD down -0.15%.