El Salvador Adds $1M Worth of Bitcoin to Its Reserve

The post El Salvador Adds $1M Worth of Bitcoin to Its Reserve appeared first on Coinpedia Fintech News

El Salvador has added 11 Bitcoins worth $1.07 million to its Strategic Bitcoin Reserve, increasing its total to 5,980 BTC. The purchase, made at 8:07 AM UTC+8, aligns with the nation’s strategy to leverage cryptocurrency for economic growth and financial inclusion. While supporters view Bitcoin as a hedge against inflation, critics highlight its volatility. Despite differing opinions, 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.