El Salvador’s bitcoin holdings top 7,600…national reserve asset valued at $506 million
Suehyeon Lee
Summary
- El Salvador said its bitcoin holdings rose to 7,605.37 BTC (about $506 million).
- It added that El Salvador has continued bitcoin purchases at the national level since adopting bitcoin as legal tender in 2021.
- It said the government is maintaining its policy of using bitcoin as a strategic asset with a foreign-reserve-like character.
Forecast Trend Report by Period
El Salvador’s government bitcoin holdings have surpassed 7,600 BTC.
According to El Salvador’s official agency, the “Bitcoin Office (The Bitcoin Office),” as of the 29th (local time), the country’s strategic bitcoin reserve increased to 7,605.37 BTC. That amounts to about $506 million.
El Salvador has continued to buy bitcoin at the national level since adopting it as legal tender in 2021. The latest increase is seen as evidence that the country is maintaining a long-term accumulation strategy despite volatility in global digital-asset markets. The government has continued to position bitcoin as a strategic asset with a foreign-reserve-like role.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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