El Salvador’s Central Bank Expands Reserves with Gold and Bitcoin
- El Salvador’s central bank purchased $50 million worth of gold, totaling 9,298 troy ounces.
- The country’s total gold holdings now amount to approximately 67,403 ounces, valued at around $360 million.
- President Nayib Bukele announced the purchase on social media, stating, “We just bought the other dip.”
- On the same day, El Salvador added one bitcoin to its reserves, consistent with Bukele’s pledge to acquire one bitcoin daily.
- As of now, El Salvador holds a total of 7,547 bitcoins worth approximately $635 million at current prices.
The recent acquisition of gold reflects El Salvador’s strategy to diversify its reserves while maintaining its commitment to Bitcoin. The government’s ongoing purchases aim to bolster national assets amid fluctuating market conditions.
With the addition of $50 million in gold and one more bitcoin, El Salvador continues to strengthen its financial position in a volatile market environment.
