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El Salvador Doubles Down on Bitcoin (BTC) With Big Purchase During Market Chaos


El Salvador Doubles Down on Bitcoin (BTC) With Big Purchase During Market Chaos

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El Salvador has intensified its Bitcoin strategy despite one of the year’s steepest market pullbacks, after adding more than 1,000 BTC in a single move and pushing its reported holdings to roughly 7,500 BTC.

According to the country’s Bitcoin Office, the latest acquisition is worth around $100 million and was executed as the cryptocurrency briefly plunged below $90,000. The purchase is the largest one-day increase the Central American country has announced and aligns with President Nayib Bukele’s pledge to keep expanding the national BTC reserve through steady daily acquisitions.

Read the article at CryptoPotato

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