El Salvador just scooped up more Bitcoin while everyone else is panicking. The country added 1,091 BTC worth over $100 million as prices were dropping. It’s the classic buy-the-dip strategy, and they’ve been doing this for years now.
Bitcoin has been legal money in El Salvador since 2021. That was a pretty wild move at the time, and plenty of people thought they were crazy. But the government’s stuck with it. Their whole approach is simple, really. When Bitcoin drops, they buy more. When it goes up, they just hold.
This latest purchase brings their total stash to around 7,474 BTC, which is worth about $688 million right now. Of course that value changes constantly depending on where Bitcoin is trading. But El Salvador doesn’t seem too worried about the day-to-day price swings.
It’s actually kind of bold when you think about it. Most countries are still debating whether crypto is even legitimate, and here’s El Salvador just stacking sats during a market downturn. They’re betting big that Bitcoin’s going to be worth way more down the road. Time will tell if it pays off, but they’re definitely committed to the strategy at this point.
Conclusion
El Salvador cemented its “buy-the-dip” Bitcoin strategy by adding 1,091 BTC, increasing its total stash to 7,474 BTC. They remain committed to their long-term bet on cryptocurrency.
Also Read: Bitcoin Just Dropped
