LatinNews Daily - 10 May 2022

In brief: El Salvador buys more bitcoins

* El Salvador’s President Nayib Bukele has announced that his government has bought 500 bitcoins in its largest purchase to date of the cryptocurrency amid a market drop. According to a tweet by President Bukele, the government bought the coins at an average price of US$30,744. The government has purchased 2,301 bitcoins since making it legal tender in September last year, according to data tracked by Bloomberg. The adoption of bitcoin as legal tender remains deeply controversial, however, and the International Monetary Fund (IMF) and others have come out against it.

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