El Salvador Adds $1M Worth of Bitcoin to Its Reserve
El Salvador has added 11 Bitcoins worth $1.07 million to its strategic Bitcoin reserve, bringing its total to 5,980 Bitcoins. The purchase, which took place at 8:07 AM UTC+8, is in line with the country’s strategy to leverage cryptocurrencies to promote economic growth and financial inclusion. While supporters view Bitcoin as a hedge against inflation, critics highlight its volatility. Despite dissent, El Salvador remains committed to its Bitcoin reserve strategy, signaling confidence in the asset’s long-term potential and aiming to strengthen its global position in the cryptocurrency market.
