The central bank of El Salvador, the small bitcoin-friendly Central American country, has added $50 million in gold to its reserves, the institution announced Thursday in an X article.
This purchase – 9,298 troy ounces – brings the country’s total gold reserves to 67,403 ounces, valued at approximately $360 million at current prices.
President Nayib Bukele reposted the ad, writing: “We just bought the other dip.” It was unclear whether Bukele was applauding the gold purchase or brazenly announcing the government’s purchase of bitcoin. Arkham data showed the country added one bitcoin to its holdings on Thursday, in line with Bukele’s ongoing commitment to his government to buy one bitcoin per day.
According to Arkham, the country’s pile now stands at 7,547 bitcoins worth $635 million, at bitcoin’s currently depressed price of just above $84,000.
