Summary
- The government of El Salvador recently purchased 8 additional Bitcoins, bringing its total holdings to over 6,277.18 BTC.
- This latest acquisition occurred as Bitcoin was fluctuating around the $115,000 mark.
- Although El Salvador has been warned about volatility risks by organizations such as the International Monetary Fund (IMF), it continues to stick to its long-term holding strategy.
El Salvador has been consistently purchasing additional Bitcoin (BTC).
According to cryptocurrency-focused media outlet CoinTrackDaily on the 23rd (local time), the government of El Salvador recently purchased 8 more Bitcoins, increasing its total holdings to 6,277.18 BTC. This is valued at $727 million.
The latest acquisition took place as Bitcoin hovered around $115,000, experiencing fluctuations.
Meanwhile, since becoming the world's first country to adopt Bitcoin as legal tender in September 2021, El Salvador has continued to accumulate Bitcoin in its national reserves. Despite international organizations such as the International Monetary Fund (IMF) criticizing the move and highlighting risks of high volatility, El Salvador has maintained its long-term holding policy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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